Betamethasone is Experiencing Decreasing Momentum in Indian Market
- 19-Aug-2022 8:51 AM
- Journalist: S. Jayavikraman
New Delhi: In India this month, the Betamethasone market experienced deteriorating economic sentiments. The price trend showcased a downfall in the domestic market owing to a quiet trading atmosphere amidst enough Betamethasone supply.
The price plunge is mainly triggered by diminishing offtakes from the domestic market and decreased import offers from foreign providers, primarily from China. China recently encountered a high-temperature situation, and some factories entered the summer shut down for maintenance. Still, the demand remained relatively low amidst the offseason for APIs in the domestic market, which compelled the market participants to reduce their prices. The end-user traders negotiated on their existing stocks to sustain substantial margins and fluctuating operating rates to maintain an optimum netback.
According to our findings, the sluggish terminal demand from downstream pharmaceutical enterprises contributes to the product's dwindling value. Although the downstream market for Betamethasone has been weak from the cosmetics and personal care sector, there is a solid supply and excess inventories, both of which are leading to a drop in Betamethasone's price. Together, these factors have had an impact on the market and driven down the cost of Betamethasone. The market for Betamethasone is currently in this scenario since the market's driving factors have been declining, and the downward trend has been more assertive.
As per the ChemAnalyst pricing intelligence, the utilization of its existing inventories caused a decline in purchasing sentiment in the domestic market. As a ripple effect, the Ex-Vapi price negotiations of Betamethasone decreased by over 2% on a month-on-month basis in August.
According to ChemAnalyst, "the Betamethasone pricing trend is expected to trace downwards in the coming months with moderate demand fundamentals from downstream industries. Due to the ongoing summer season, the cosmetic industry is also anticipated to consume less than in the previous month in India.