Prices for Sodium Bicarbonate are Likely to Stabilize in the US

USA: In March 2023, it has anticipated a drop in the cost of raw materials, primarily Soda Ash, which will further stabilize the price of Sodium Bicarbonate in the domestic US market. Sodium Bicarbonate can be used to bake cakes, crackers, waffles, and other baked goods in bakery and pastry applications. It is also used in beverages because it produces carbonation or froth. The traders with large stocks have also boosted the supply, consequently helping maintain prices at their level from the previous month.

Prices for Soda Ash are declining, and it is increasingly being purchased on demand for downstream applications like those in food, textiles, and pharmaceuticals. The final week of February 2023 saw a consolidation of Sodium Bicarbonate prices. At the start of February and its end, the average market price fell by 0.32%, and previous year over year, it fell by 3.88%. During the previous quarter, the downstream market mostly bought Sodium Bicarbonate on the lower end, and the chemical's price was adjusted and largely stabilized. The demand for Sodium Bicarbonate was also moderate in downstream industries like textile, food, and pharmaceuticals. As a raw material, Soda Ash has a low market average price and a consolidated range. When viewed as a whole and based on the downstream market's demand for the product, the price of Sodium Bicarbonate stayed consistent with the market's consolidated operation. Although the USA imports most of its commodities from China, prices have stabilized and are predicted to remain low this quarter due to sustained end-user sector demand.

According to ChemAnalyst, the price of Sodium Bicarbonate is predicted in light of the downstream market demand, and it is widely anticipated that weak consolidation operations will eventually dominate Sodium Bicarbonate price movements. Additionally, Sodium Bicarbonate prices would be further affected by the feedstock Soda Ash costs during Q1 of 2023.