Citric Acid Prices: Price, Trend, Pricing, News, Analysis | ChemAnalyst

For the Quarter Ending September 2023

North America

For the quarter ending September 2023, CFR New York Citric acid prices witnessed an uptick between July and September, escalating from $870 to $896 per metric ton. This increase positively impacted third-quarter results, signaling a preference for higher price levels with an average quarterly rise of 0.17%. The domestic citric acid market in North America saw growth propelled by increased demand across various industries. Limited to moderate inventory levels prompted sellers to incrementally raise prices monthly, bolstering the optimistic price trend. Import costs surged in the latter part of the quarter due to fluctuations in the exchange rate between the US dollar and the Yuan. Although inflation slowed somewhat, market participants remained vigilant due to the Federal Reserve’s decision to raise interest rates. Notably, warehousing costs, warehouse usage, and inventory expenses in the United States saw a noticeable surge starting in July, contributing to price increases for commodities like Citric acid.

Asia Pacific

In the third quarter of 2023, Citric acid prices in the Asia Pacific region experienced a notable rise, ascending from $745 per metric ton in July to $780 per metric ton FOB Shanghai by September, reflecting an average quarterly increase of 0.89%. China, the world’s second-largest economy, faced a slower growth rate than anticipated, casting a negative shadow over the beginning of the quarter. Factors contributing to the price hike in China included the strengthening of the Chinese Yuan against the US dollar, increased local demand, and rising raw material costs. Supply constraints, low inventories, and steady manufacturing production created an imbalance, exerting upward pressure on prices. Increased demand before the Golden Week holidays, coupled with strategic bulk ordering to replenish inventories, further intensified overall demand pressures during the holiday season.

Get Real Time Prices of Citric Acid: https://www.chemanalyst.com/Pricing-data/citric-acid-1438

Europe

In the third quarter of 2023, citric acid costs in Europe followed a consistent trend, with a minor drop from $1230 per metric ton in July to $1240 per metric ton CFR Milano in September, resulting in an average quarterly decrease of 2.00%. The drop in July was attributed to sufficient inventories and weak demand. A mid-quarter price increase was driven by higher demand towards the end of the period. Exchange rate fluctuations, particularly the Euro’s devaluation, impacted imported chemical costs, including citric acid. Rising energy costs and challenging manufacturing conditions in Italy contributed to an overall increase in manufacturing expenses for citric acid. Economic factors such as high inflation and a cautious “wait-and-see” approach among market investors continued to hinder growth.

South America

Between July and September 2023, CFR Buenos Aires, Argentina, witnessed an uptick in citric acid prices from $900 to $925 per metric ton, reflecting an average quarterly rise of 0.17%. The decrease in July was aligned with the Chinese market, driven by sufficient inventories and weak demand. The mid-quarter price increase was fueled by heightened demand, especially from India and China. Speculator investments and limited supplies from major exporting nations played a significant role in driving prices higher. The rise in energy expenses added to the manufacturing costs of citric acid, contributing to the general price hike. South America experienced increased warehousing costs, warehouse usage, and inventory expenses, leading to price increases for commodities like citric acid. Importing countries likely followed a similar trajectory to exporting countries during this period.

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