Sodium Ascorbate Prices Rise Incessantly Across the Globe in February 2023
- 23-Feb-2023 7:41 PM
- Journalist: Nina Jiang
Sodium Ascorbate, a pharmaceutical & food Excipient, displays a positive price trend throughout the mid of the first quarter of 2023. The rise in Sodium Ascorbate's downstream demand owing to its primary usage as a food antioxidant, a surge in its feedstock cost, and delayed shipments strengthen the current trend across all the regions, including China, Germany, and the United States.
With the approach of the Lunar New Year, China already saw a rapid increase in requests for Sodium Ascorbate and Vitamin C, which severely limited production at that hub and contributed to its shortage in both the domestic and international markets. The first week of February, just after the end of the Chinese Lunar New Year break, saw a slowdown in the demand and its quotations from its end-users, especially from major importing countries, but as the second week of February approaches, an increase in prices of Sodium Ascorbate allowed Chinese manufacturing units to resume their operations. Another key factor that contributes to the current surge in the prices of Sodium Ascorbate in China includes the former cheap price of Sodium Ascorbate, which has now crossed the cost line, as all the factories have now jointly raised the price to cover their loss aversion because of previous low price since April till December of the year 2022 and the factory's price has been raised for three consecutive weeks.
On top of that, according to the market experts, the prices of Sodium Ascorbate in China, one of the major exporters, are likely to surge in upcoming months as well due to the commencement of the FIC (Food Ingredient China 2023 Exhibition), which is "The Biggest and the Most Professional Food Additives and Ingredients Exhibition." One of the most expert trade events for food additives and ingredients occurs in Shanghai. The trade show, held annually, features products from the whole food sector, including novel foods and ingredients, natural and functional substances, packing materials for food, and machinery.
The show is organized into five distinct exhibiting spaces, this time to better serve professional visitors. Fifty release conferences on new products & technologies, three academic forums, and an extensive display of products & technology will be included. Also, there will be 1068 local exhibitors representing significant producers and exporters, around 500 international exhibitors representing leading international businesses, and special pavilions from the United States, Japan, Korea, and Taiwan.
The industry is eagerly anticipating the appearance at the exhibition of its most esteemed summit forums, including the Academician Forum on Food Innovation and Development, the second 2025 Forum on Food Machinery and Equipment Development made in China, and the Food Regulations and Standards Forum of China, Japan, South Korea, and the United States. Via these three forums, people from all around the world will have the opportunity to hear the opinions of eminent experts and engage in conversation with them. The industry's future will be examined through reports and speeches from a scientific and technological development standpoint. The expo will focus on a certain product category, such as food additives and antioxidants, including Sodium Ascorbate and other ingredients, and food processing aids.
Similarly, in other places in the world, the prices of Sodium Ascorbate demonstrate an incremented trend during the mid of the first quarter of 2023. Continuous higher demand and shortage of stocks in the domestic market support the current trend of Sodium Ascorbate prices in both the United States and Germany regions. The end of this Chinese spring festival helped the traders to place newer quotations for Sodium Ascorbate to achieve the overall demand and cope with the shortage of stocks.