How surging Soda Ash Prices swaying the Sodium Bicarbonate Market in India

Sodium Bicarbonate, commonly known as Baking Soda, is mainly used in the Food and Beverage industry. The prices of Sodium Bicarbonate have been consistently rising over the past few weeks due to soared value of Soda Ash. Though the demand for Soda Ash from the detergent industry was relatively low in the considered period, however, the strong demand from solar glasses, flair glasses, and bottle glasses industries propelled the consumption of Soda Ash in the market. As Soda Ash is the upstream for Sodium Bicarbonate, the prices of Sodium Bicarbonate rose.

Furthermore, the growing number of bakeries and confectionaries in the Indian domestic market exacerbated the offtake of Sodium Bicarbonate. The growth in the pharmaceutical industry owing to increased globalisation and population added to the already augmented demand for Sodium Bicarbonate. Besides, the Solvay process, which is the manufacturing route for the industrial preparation of Sodium Bicarbonate and is an energy extensive process, hence is mainly dependent upon energy. Consequently, the skyrocketing crude oil prices amidst Russia-Ukraine war tensions surged the production cost of sodium Bicarbonate.

In addition, As India imports Sodium Bicarbonate mainly from China, Russia, Italy, and Thailand, enhanced logistic charges and port congestions further contributed to the price rise of Sodium Bicarbonate in the domestic market. The prices of Sodium Bicarbonate assimilated at USD 502/MT Ex-Mumbai on a weekly basis, concluding with April 1. The evaluated prices of Sodium Bicarbonate on a monthly basis were at USD 498/MT Ex-Mumbai during March.

According to ChemAnalyst, “As Soda Ash prices are most likely to continue rising, so is the price value of Sodium Bicarbonate. Furthermore, increased downstream demand from food & beverage industry and pharma indust would hike the Sodium Bicarbonate price. Moreover, the fuelling energy cost would keep escalating the production cost of Sodium Bicarbonate, which would propel its value.”