The global market for Agar-Agar is currently in a state of decline. January had provided a significant drop in the price levels of Agar-Agar; along with weakened overseas demand and reserve-based purchasing from downstream customers, prices declined dramatically. Exporters in China have received limited requests from key exporting countries (U.S., Japan) for their goods; on the other hand, domestic production was robust enough to give suppliers the opportunity to strategically reduce their offers in order to be competitive. The consistent harvest levels of red seaweed as well as the stable level of imports provided Agar-Agar suppliers with ample amounts of supply for their activities reducing their ability and opportunities to pass-through increased costs and allowing them to reduce price quotes in order to maintain market share during January.
