Global Sodium Citrate Dihydrate Prices to Remain in the Northward Direction
- 27-Mar-2023 11:17 AM
- Journalist: Patricia Jose Perez
The prices of Sodium Citrate Dihydrate across the globe are likely to end the first quarter of 2023 on a bullish note as the demand from downstream remained on the upper side until March 2023, coupled with lower supplies and a surge in trade activity significantly in Germany, China, and the United States.
Rising output among the manufacturers was encouraged by increased queries from global traders since January 2023, supporting the overall market sentiments of Sodium Citrate Dihydrate throughout the international market. In the United States, the prices of Sodium Citrate Dihydrate remained in the Northward direction owing to a continuous inquiry from the downstream Food and Beverage sector. Besides this, the continuous export of its feedstock Citric Acid from China, one of the primary suppliers, helped the traders and domestic retailers to raise their future quotations for downstream Sodium Citrate Dihydrate.
In a similar manner, the prices of Sodium Citrate Dihydrate inclined at a consistent rate with the start of March 2023 and are expected to end the first quarter of 2023 on the same note. Ease in energy costs, lower freight charges, and a rise in an export activity together reinforced the price trend of all the downstream products, including pharmaceutical excipients such as Sodium Citrate Dihydrate.
Furthermore, the Chinese market witnessed a significant surge in production activity for both the downstream Sodium Citrate Dihydrate and its upstream Citric Acid at a constant rate. According to market experts, it is anticipated that the cost of this downstream Sodium Citrate Dihydrate might surge by around 2 percent or more than that on the back of the arrival of the Food Ingredient China 2023 Exhibition.
As per ChemAnalyst, the prices of Sodium Citrate Dihydrate are likely to remain on the upper side in approaching months across the global market. New orders from both local and foreign markets are more likely to maintain the upward trend in the market for Sodium Citrate Dihydrate.