BASF to increase price for formic acid in North America and South America

FLORHAM PARK, NJ, July 31, 2017 – Effective September 1, 2017, or as contracts allow, BASF will increase its list and off-list prices in North America for all grades of bulk formic acid by $0.03/lb., and all grades of packaged Formic Acid by $0.05/lb. In South America, all grades of both bulk and packaged Formic Acid will increase by $50 per metric ton.

Formic acid is a high-quality intermediate used in a broad range of applications. In animal nutrition, for example, it is used as a feed preservative. 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. 

BASF is the world’s leading producer of formic acid with production plants at its integrated Verbund sites in Ludwigshafen, Germany; Nanjing, China; and Geismar, Louisiana.  

A-US-17-077