Brazil's Benzoic Acid Price Drops 11% to $1,821 per Ton

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Brazil Benzoic Acid Import Price in June 2023

The price of benzoic acid in Brazil was $1,821 per ton in June 2023, showing a decrease of 10.6% compared to the previous month. This import price decline was significant. The import price experienced a notable growth rate of 16% in October 2022, reaching a peak level of $2,724 per ton. However, from November 2022 to June 2023, the average import prices remained at a lower figure.

There were significant variations in average prices among the major supplying countries. In June 2023, the United States had the highest price of $4,094 per ton, while Hong Kong had one of the lowest prices at $1,138 per ton.

Between June 2022 and June 2023, the United States showed the most significant price growth of 3.2%, while the prices of other major suppliers experienced a decline.

Brazil Benzoic Acid Imports

For the third consecutive month, Brazil's imports of benzoic acid, its salts, and esters decreased by 28.5% to 847 tons in June 2023. The overall trend indicates a noticeable decrease in imports. The most rapid growth rate occurred in March 2023, with a 74% month-on-month increase.

In terms of value, benzoic acid imports dropped sharply to $1.5 million (IndexBox estimates) in June 2023. Overall, imports show a significant decline. The most prominent growth rate was recorded in March 2023, with a 69% increase compared to the previous month.

Brazil Benzoic Acid Imports by Country

In June 2023, China was the largest supplier of benzoic acid to Brazil, accounting for a 55% share of total imports. China's supply exceeded the second-largest supplier, Estonia, by threefold. The Netherlands held the third position with a 13% share.

From June 2022 to June 2023, China had an average monthly growth rate of 2.5% in volume. Estonia showed a monthly growth rate of 2.3%, while the Netherlands experienced a decline of 8.0% per month.

In terms of value, China, the Netherlands, and Estonia together constituted 82% of Brazil's benzoic acid imports.

Estonia recorded the highest growth rate of +1.9% in import value among the main suppliers, while other leaders experienced a decline in purchases.



Source: IndexBox Market Intelligence Platform

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