As February unfolds, the global Citric Acid market braces itself for a significant surge in prices, propelled by a myriad of factors poised to impact the industry in the remaining two months of the first quarter of xxxx. Across the Asia-Pacific (APAC), North American, and European regions, a convergence of events, ranging from plant shutdowns to geopolitical tensions, are expected to drive Citric Acid prices upwards, exerting pressure on supply chains and market dynamics.
In the APAC region, the escalation of Citric Acid prices is primarily attributed to the shutdowns of mojo plants in prominent exporting provinces. These Citric Acid plant shutdowns have rendered manufacturing units nonoperational as they undergo maintenance, resulting in a reduction in supply. Furthermore, festivities such as the Chinese Lunar New Year in mid-February have exacerbated the situation, leading to additional plant closures and disruptions in production activities of Citric Acid. The resulting...
