A spokesperson for BASF told FeedNavigator that strong regional demand for those products from across the various sectors - food, feed, pharma, and oilfield - prompted the move.
The price increase for its formic acid 85% product is €250 per metric ton, while prices for all its other concentrations of formic acid will be increased accordingly on a pro rata basis, said the company.
Its propionic acid product will now be priced €150 higher per ton.
Formic acid is used in a broad range of applications. While, in animal nutrition, it is used as a feed preservative and is increasingly promoted as an alternative to formaldehyde, in leather processing, formic acid ensures the efficient fixing of dyes and retanning agents, said BASF.
Potassium formate, a salt of formic acid, is an environmentally acceptable and highly efficient de-icing agent used on roads and airport runways. Both formic acid and potassium formate are also used in the oilfield industry as part of the drilling and completion process, as well as in shale gas exploration. Moreover, formic acid is a powerful descaling agent, according to the German chemical group.
Propionic acid is widely used in the production of feed preservatives as well as in pharmaceuticals, crop protection agents, solvents, food and plastics, said the company.