Traders say methanol prices in the international markets have jumped by almost 100 per cent over the last seven months. Because of high prices, imports have stopped leading to shortage of the product. This has prompted the domestic manufacturers to raise their prices.

Accordingly, leading methanol makers like RCF (with installed capacity of 50,000 tpa) Deepak Fertiliser (100,000 tpa), Gujarat Narmada Fertiliser Corporation (160,000 tpa), National Fertiliser (20,000 tpa), Assam Petrochemicals (10,000 tpa) are expected to raise their prices in coming weeks, traders say. On Thursday November 2, methanol was quoted at Rs 13,900 per mt tn, up from Rs 9,800 per mt quoted in last April. It is around 42 percent jump in the price in just seven months. Volatile international markets too has witnessed methanol prices jump to $220 per mt from $110 per mt earlier - around 100 per cent up since from July last. Because of high price volatile of methanol in the international market domestic importers have currently stopped importing the chemical.