Escalated Demand Compels Penicillin G Sodium Prices to Spike High in the US:
- 01-Nov-2022 8:13 PM
- Journalist: Timothy Greene
Houston: Prices for Penicillin G Sodium have been on the rise since the end of the third quarter, i.e., from September, and they have continued to follow the same trend in October. The increased demand from the pharmaceutical end-user industries and a lack of supply from the providers have immensely contributed to this price trend. Additionally, the geopolitical tension between Russia-Ukraine, healthy consumer interest, and protracted supply disruption have further aided to the price enhancement in the US.
After a particular decrement in the prices of Penicillin G Sodium since the second quarter of 2022, the price regained track, forcing the traders and suppliers to enhance their stock levels to cope with the increasing requirements. As of October, the shortage of primarily used antibiotics was reported owing to higher demand and inability to meet sufficient necessities. Furthermore, higher transportation charges and supply disruption kept the market of Penicillin G Sodium in the northward direction. This month the cost of Penicillin G sodium upsurged significantly by about 4.56 percent in the United States.
Moreover, the government's Covid Zero policy, which has caused ongoing supply chain disruptions and an increase in the cost of manufacturing industrial goods, China's retail activity has begun to show signs of stagnation. Also, the increased operating cost owing to higher power prices considerably supported the price tendency of downstream products. Overall, the Strict No-Covid regulations and the enforcement of lockdowns in various cities in China caused Penicillin G Sodium production units to halt, resulting in inadequate supplies and interrupted trading momentum.
According to ChemAnalyst: "The cost of Penicillin G Sodium is expected to remain on the higher side. Healthy downstream demand, supply disruption, and heightened trading cost will likely support Penicillin G Sodium's market sentiments in November. Also, rising energy costs and halted manufacturing momentum from exporting countries might keep the prices on the upper end."