BASF increases packaging product prices

Global chemical company BASF is increasing prices for resins and dispersions in Europe, Middle East and Africa (EMEA).
 
The price rises in the EMEA region are in place from today (March 1), and impact resins and dispersions for the coatings, printing and packaging industries. It is expected that the price rises will rise by 3-12 percent, as existing contracts allow. The price increase covers, but is not limited to, the Joncryl, Luhydran and Acronal product ranges.
 
‘The price adjustments are necessary mainly due to further significantly increased costs of key raw materials,’ BASF said in a statement.

BASF will also increase prices of its Ultramid extrusion and fiber polyamides in Europe by €150 per metric tonne with immediate effect. BASF's Ultramid extrusion and fiber polyamides are used for producing films for food packaging and industrial use, for manufacturing monofilaments, for wire jacketing, for carpet and textile fibers.

The price adjustment is necessary due to the strong increase in raw material costs. BASF said it continues to try and offset rising costs in a difficult environment, however the 'extraordinary market conditions force BASF to implement this price increase'.