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Global Calcium Propionate Prices Witness Significant Surge in February 2024
Global Calcium Propionate Prices Witness Significant Surge in February 2024

Global Calcium Propionate Prices Witness Significant Surge in February 2024

  • 11-Mar-2024 4:31 PM
  • Journalist: Gabreilla Figueroa

In February 2024, the global Calcium Propionate sector experienced substantial price fluctuations, particularly in key markets such as the Asia-Pacific (APAC), North America, and Europe. This volatility underscores the intricacies of the global market dynamics surrounding this vital ingredient extensively used in the food and feed industries, as well as in healthcare products.

China, renowned as a major producer and exporter of Calcium Propionate, saw a steady rise in prices throughout February. Several factors contributed to this upward trend. Following the conclusion of the Lunar New Year and Spring Festival holidays, there was a notable surge in bulk orders and purchases from both domestic and international markets. As production facilities resumed full operations post-maintenance, market confidence strengthened, further fueling the price hike.

Moreover, dwindling Calcium Propionate inventories in China heightened demand, exacerbating the price increase. The depreciation of the Chinese yuan against the USD also played a role in driving up costs. Additionally, post-holiday demand resurgence and increased consumer confidence acted as catalysts for pushing prices upward in the region.

Similarly, the United States experienced a notable rise in Calcium Propionate prices during the same period. Several factors contributed to this increase, including warmer weather conditions since January, which boosted economic activity. However, disruptions in shipping routes, particularly due to attacks in the Red Sea region, significantly impacted prices. These disruptions led to a surge in shipping costs and delays, affecting the supply chain and subsequently increasing freight charges for the US, which heavily relies on China as a major exporter of Calcium Propionate.

Furthermore, the rise in prices of the raw material propionic acid in the US further elevated production costs, thereby maintaining strong market sentiment and supporting the upward trajectory of Calcium Propionate prices.

ChemAnalyst's analysis in February uncovered varying price movements across different regions, emphasizing the intricate nature of global supply chains and the importance of proactive risk management tactics. The notable increase in Calcium Propionate prices during the month further underscores the complex dynamics of the global market, urging industry stakeholders to adopt strategic and forward-thinking measures to tackle challenges and capitalize on emerging opportunities in this evolving scenario.

Looking ahead, Calcium Propionate prices are anticipated to continue their upward trend in the first quarter of 2024, driven by prevailing market conditions and external influences. Industry stakeholders are advised to remain adaptable and vigilant in navigating the evolving market landscape to mitigate risks effectively and capitalize on emerging opportunities.

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