During the initial quarter of 2023, oleic acid prices in Asia experienced a decline attributed to the reduction in cooking and edible oil expenses, influenced by Malaysian regulations and a weakened market sentiment. However, in the second quarter, prices rebounded as a result of increased raw palm and edible oil costs, combined with a decrease in sunflower oil supply from Russia and diminished inventories. The growing economy in Asia further contributed to the upswing in prices.
In Europe, oleic acid prices initially saw a decrease due to low material costs and disruptions in supply chains. Nevertheless, prices witnessed a surge in the second quarter, driven by a rise in domestic demand, depleted inventories, and increased international inquiries. Similarly, North America experienced comparable trends, reflecting a surge in demand and fluctuations in feedstock prices.
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Definition
Oleic acid, a monounsaturated omega-9 fatty acid (C18:1), is essential for cellular function and energy storage. It’s found in various fats and oils like olive and canola oil. Its fluidity at room temperature, attributed to a single double bond, benefits heart health. Oleic acid forms stable triglycerides and plays a role in lipid metabolism. It’s known for its versatility, influencing texture and stability in products from food to cosmetics.
Key Details About the Oleic Acid Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Oleic Acid in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.
The Oleic Acid Price trend, including India Oleic Acid price, USA Oleic Acid price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting the Oleic Acid Price Trend:
Oleic acid, a monounsaturated omega-9 fatty acid, is employed in a wide range of industrial applications. Within the food industry, it serves as a crucial component in cooking oils, margarine, and spreads, enhancing both flavor and shelf life. Its role extends to being an emulsifier and stabilizer in the production of processed foods. In the cosmetic and personal care sector, oleic acid’s moisturizing properties make it a fundamental ingredient in creams, lotions, and soaps. Additionally, oleic acid holds industrial significance as a primary material for generating various derivatives, such as surfactants, lubricants, and biodiesel. Its versatile nature and positive impact on texture, stability, and health contribute to its extensive use in various industrial processes.
Key Players:
- Eastman Chemical Company
- Berg + Schmidt GmbH & Co. KG
- Emery Oleochemicals Sdn Bhd
- Wilmar International Limited
- White Group Public Co Ltd
- Godrej Industries
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