Citric Acid Price Trend Second Quarter 2024:
- United States: 906 USD/MT
- South Korea: 787 USD/MT
- Germany: 921 USD/MT
The latest report by IMARC Group, titled " Citric Acid Prices Report 2024: Price Trend, Chart, Industry Analysis, News, Demand, Historical and Forecast Data ," provides a thorough examination of the price trend. This report delves into the Price of Citric Acid globally, presenting a detailed analysis, along with an informative price chart. Through comprehensive Price analysis, the report sheds light on the key factors involving these trends. Additionally, it includes historical data to offer context and depth to the current pricing landscape. The report also explores the demand, analyzing how it impacts industry dynamics. To aid in strategic planning, the price forecast section provides insights into price forecasts, making this price report an invaluable resource for industry stakeholders.
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Key Highlights of the Citric Acid Price Tren d
Citric acid prices continue to be influenced by steady demand across various sectors, including food and beverages, pharmaceuticals, and household cleaning products. In North America, strong supply chains and effective inventory management have kept prices stable, even with external challenges such as logistical disruptions and geopolitical factors. In the Asia-Pacific region, rising costs for raw materials, particularly corn, and strong demand have led to price increases, with China's export market playing a significant role. Meanwhile, the European market has maintained balance, thanks to stable production and minimal interruptions, ensuring a steady supply-demand balance.
Factors Influencing Citric Acid Prices in Second Quarter 2024 :
In North America: During the second quarter, citric acid prices in North America remained stable due to well-managed supply chains and inventories. Disruptions such as the Panama Canal drought and the Baltimore Bridge collapse had a limited effect on prices. While freight costs and container shortages slightly impacted overall expenses, alternative logistics mitigated the effect. Seasonal demand fluctuations were minimal, and prices only a slight increase, maintaining consistency throughout the quarter. This reflects a cautiously optimistic market outlook despite ongoing challenges.
In Asia-Pacific: In second quarter, citric acid prices in the Asia-Pacific region saw a sharp rise, driven by strong demand, supply limitations, and increased raw material costs, particularly for corn. Geopolitical tensions, logistical issues like the Panama Canal drought, and a stronger Chinese yuan further contributed to price hikes. South Korea experienced the most notable price changes, influenced by seasonal factors, higher production costs, and China’s market dynamics. However, by June, weakening demand led to an oversupply, causing prices to decline toward the end of the quarter.
In Europe: Citric acid prices in Europe remained largely stable throughout second quarter, supported by minimal disruptions and efficient inventory control. Although the food and beverage industry experienced some seasonal demand fluctuations during the summer, overall pricing remained steady. In Germany, a key market, prices saw only minor adjustments as supply and demand remained well-balanced. The region's stable environment was further bolstered by lower freight costs and consistent production, ensuring smooth market conditions across Europe.
Overall, Price Trend and Regional Prices Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, Morocco
Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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