For the Quarter Ending September 2023
In the third quarter, Agar Agar prices in the USA market exhibited a varied trajectory. July witnessed a decline in prices attributed to reduced sales and new order inquiries from end-user industries. Government data on inflation indicated a 3.2% increase in consumer prices in July over June, following a 3% annual growth rate in June—its lowest in over two years. In response to inflation, the Federal Reserve raised its benchmark rate 11 times in July by 25 basis points, dampening overall market demand. However, Agar Agar prices rebounded in August due to supply shortages and surging consumer demand. Global supply chain disruptions and high oil prices further contributed to the upward price trend. September saw a significant price increase due to rising inflation, sluggish trading activity, and persistent demand from end-user industries. The Consumer Price Index rose by 3.7%, slightly exceeding the 3.6% forecast, with energy costs increasing by 1.5%. High gasoline and fuel oil prices, along with slow Chinese imports, kept Agar Agar prices elevated.
The third quarter witnessed fluctuating Agar Agar prices in the Chinese market. July saw a 4.11% drop as factory activity slowed, and downstream industry demand decreased. The strengthening Chinese yuan against the US dollar contributed to overseas price increases, further reducing demand in China. Market suppliers focused on destocking to reduce inventory and sustain profit margins. The official manufacturing purchasing managers’ index (PMI) increased slightly from 49.3 in July to 49.7 in August, resulting in a 0.43% rise in Agar Agar prices. China’s central bank reduced key interest rates to boost domestic consumer demand, yet prices surged by 5.83% in September due to a steady increase in new orders, indicating heightened demand in the manufacturing sector. By the end of the third quarter, prices stabilized at USD 14880/MT USP FOB Xiamen.
Get Real Time Prices of Agar Agar: https://www.chemanalyst.com/Pricing-data/agar-agar-1437
German Agar Agar prices exhibited a mixed pattern in the third quarter. July witnessed a decline due to the deteriorating business environment, leading to fewer new orders and reduced market demand. Rising interest rates by the European Central Bank further contributed to lower domestic demand. August saw an increase in Agar Agar prices driven by heightened demand from the pharmaceutical and healthcare end-user markets. Slower imports from major exporting countries and disruptions in the global supply chain contributed to a supply shortage, driving prices higher. September marked a further increase, indicating a rebound in consumer confidence in the German market. This trend was influenced by factors such as scarce available inventory, high energy prices, and increased end-user demand.
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