The cost hike took effect from 1 September across Europe.
"This measure has become necessary before the backdrop of drastic increases in the raw material and energy costs in recent months," the company stated.
The biodegradable copolyester Ecoflex belongs to the company's PlasticsPlus product line of its Styrenics division. Ecoflex is used primarily in packaging blends.
These are combinations of renewable raw materials such as starch, cellulose or polylactic acid with a biodegradable, synthetic polymer like Ecoflex. It is used to produce all kinds of packaging for food and drink products, shopping bags, organic garbage sacks and mulch film for agriculture.
The BASF PlasticsPlus line is made up of a range of styrene plastics, biodegradable materials and foams.