January 2023 Demonstrates a Mixed Price Trajectory For Pectin Across the Globe
January 2023 Demonstrates a Mixed Price Trajectory For Pectin Across the Globe

January 2023 Demonstrates a Mixed Price Trajectory For Pectin Across the Globe

  • 14-Feb-2023 5:30 PM
  • Journalist: Li Hua

The prices of Pectin demonstrated a mixed trend throughout the first half of Q1 2023. Prices rose in the United States, mirroring the December trend in China and India. Furthermore, currency depreciation in the United States against the Chinese Yuan kept Pectin prices high. On top of that, sufficient stocks among the market players in China and India supported the weaker market sentiments of Pectin in the APAC region.

The United States witnessed an uprise in the prices of Pectin at the start of 2023 on the back of a poor harvest and higher demand within the domestic market. Growers still struggled to recover from two hurricanes last year, which affected the production of citrus crops within the region, owing to which less supply and more end-user demand helped the market participants raise their prices and further quotations. Moreover, the arrival of CNY (Chinese New Year) affected the overall trade momentum across the international market, which feared the trades of shortage of inventories for Pectin, owing to which they focused on placing newer orders earlier to prevent further delays of consignments. Overall, compared to December 2022, the price of Pectin surged by around 1.11 percent in January 2023.

Furthermore, Pectin prices in China have shown a weaker trend since the beginning of January 2023, as stocks of Pectin have remained adequate in response to overall demand from the end-user food and pharmaceutical sectors. Further, in the final weeks of January, the CNY holidays supported the trend as the temporary closure of manufacturing units, and labor shortage did not affect the supplies of Pectin within the domestic market.

As per ChemAnalyst, "the price value of Pectin anticipates a positive demand outlook in the upcoming months. Participants expect a positive market sentiment within the domestic and overseas markets. Refiling of stock levels and the surge in manufacturing activity in the Chinese market reflect a favorable market outlook for Pectin in the forthcoming months of Q1-2023."

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