Global Potassium Sorbate Prices Show Mixed Trends at the End of Q1 2023

The global Potassium Sorbate market demonstrated a mixed price trend throughout the first quarter of 2023, which was attributed to fluctuated downstream demand followed by irregular supplies and inquiries from the international market.

In the APAC region, the prices of Potassium Sorbate started on a positive note in early January 2023 owing to improved downstream demand witnessed within the region, whereas as February approached, the prices went down by around 4 percent, and the overall inquiries were balanced with enough supplies presented by market players. Moreover, China dismantled its rigid zero-Covid policy in early January, but a sudden rise in infections across the country disrupted the factory production and the supplies within the domestic and international market, which kept the prices of Potassium Sorbate in the northward direction. However, upstream Sorbic Acid cost supported the overall price trend of Potassium Sorbate throughout the end of the first quarter of 2023 across the global market.

Likewise APAC, the cost of Potassium Sorbate followed a seesaw trend in the US and Germany in the quarter ending in March 2023. January witnessed a considerable rise in its prices along with the consumer prices index in Germany, steadily strengthening purchasing confidence. Also, the market has started to show signs of strength in support of an improvement in the flow of trade from China to Europe. Moreover, as February approaches, due to adequate stockpiles of Potassium Sorbate and weaker end-user demand among the suppliers and traders, they pulled back their newer orders for Potassium Sorbate from export nations. The ease in logistic charges and energy costs did not affect February’s trend in Germany, as the inquiries remained on the feeble side. At the end of the first quarter of 2023, the demand for downstream Potassium Sorbate increased across the international market, coupled with sufficient stocks among the suppliers within the export nations.

According to ChemAnalyst, “the Potassium Sorbate market will likely remain on the upper side in the upcoming months across the globe. Consistent demand with a surge in production activity for the product is projected to support this price trend.”