Since the beginning of April 2023, prices of Tall Oil Rosin have continued their bullish trend in the USA and Asian market on account of increased offtakes from the downstream industries, though supplies remained insufficient in the respective region. In addition, supply disruption at the JNPT port and other macroeconomic factors, such as high inflationary pressure and rising interest rates by the US Fed's reserve, has further boosted the market sentiments of Tall Oil Rosin.

Tall Oil Rosin prices have continued to rise in the Indian market, backed by the increased demand from the downstream adhesives and rubbers industries and limited supply in the domestic market. Furthermore, operating rates have remained moderate in the domestic market while the imports from China and other exporting country have remained slow. As per the market participants, supply chains were disrupted due to logistic issues, leading to limited material availability and a marginal increment in the price value of Tall Oil Rosin. Meanwhile, congestion on major ports such as JNPT due to a significant capacity reduction, which has been fuelled by the closure of a berth operated by APM Terminals (APMT) Mumbai, to upgrade and replace gantry cranes, further deteriorated the supply chain fundamentals. On the other side, India manufacturing Purchasing Index increased from 56.4 to 57.2 in April, signifying an expansion in industrial and manufacturing activities. Overall, high demand and inadequate supply force traders to raise their quotations. Thus, prices of Tall Oil Rosin were assessed at USD 1590/MT with a month-on-month increment of USD 32/MT during April.

Similarly, in the USA market, Tall Oil Rosin prices have increased by USD 40/MT on a monthly basis due to improved buying trends among the end-users. Imports from Brazil (a major exporter) have remained steady on the USA shores as the US Ports of Long Beach and Los Angeles have witnessed a shortage of labor and dockworkers, eventually leading to a shutdown of the ports. On the other side, demand for Tall Oil Rosin from the downstream adhesives and ink industry has increased with ample new orders, which pushed up the prices of Tall Oil Rosin in the domestic market.

According to ChemAnalyst's anticipation, Tall Oil Rosin prices will continue to rise in the USA and Asian markets due to further expectations of a rise in demand from the rubber and adhesives industry. Feedstock pine wood prices are expected to increase, which may positively impact the production cost of Tall Oil Rosin.