THE WHAT? BASF has announced that it is increasing the prices of polyalcohols Neooentylglycol (NPG) and 1,6-Hexanediol (HDO) with immediate effect or as existing contracts permit.
THE DETAILS The price of NPG will rise by €100 per metric tonne, while HDO will be €150 more expensive per metric tonne.
THE WHY? While BASF did not give a reason for the price increase, we can surmise that shortages of hand sanitizer have sent prices soaring on all ingredients with similar properties to alcohol, which is the key ingredient in the prized anti-bacterial gel.