Germany-based specialty chemicals manufacturer BASF has increased its prices for formic acid in Europe.

The price for formic acid 85% is up EUR 30 per tonne, while the price for formic acid 99% is up EUR 40 per tonne. The increases will take effect immediately or as existing contracts allow.

BASF is the world’s top producer of formic acid, with production plants in Ludwigshafen, Germany, and Nanjing, China.

The main markets of formic acid are leather, textiles, pharmaceuticals, chemicals and agriculture.