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Ethyl acetate prices slightly increased during the month of December 2023. The increase in the costs of ethyl acetate was mainly influenced by the rise in the costs of acetic acid (feedstock) during the same period. Analysis of Procurement Resource reported a m-o-m increase of approximately 3.64% in the prices of ethyl acetate in India between November to December 2023.

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However, fluctuation observed in the demand acquired for ethanol from the downstream industries caused minor instability in the prices of ethyl acetate, as well. The overall momentum depicted by the demand-supply equation for ethyl acetate was positive throughout December 2023.

Declined Prices of Ethanol Called for Moderation in the Production of Ethyl Acetate in China

Production of corn, a raw material used for ethanol production, increased amid better weather conditions in China during December. The increase in the availability of feedstock (corn) resulted in lowering the prices for it in the major Chinese provinces. Weak prices of corn impacted the costs of ethanol, resulting in moderate productivity of ethyl acetate.

Hike in the Costs of Acetic Acid Built a Positive Market Sentiment for Ethyl Acetate

The prices of ethyl acetate tolerated varying trends throughout the month of December 2023. However, the increase in the prices of acetic acid due to weak supply amid disruption in productivity proved to be a benefit for the ethyl acetate market and strengthened its prices, as well.

According to Procurement Resource, the prices of ethyl acetate kept vacillating, ending the month of December with a minor uptick, marking a m-o-m increase of approximately 3.64% in India. The increase was mainly strengthened due to the hike in the costs of acetic acid, while the demand for ethanol remained fluctuating.