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US Pectin Prices Surge at the End of Q3 2023 Amidst Increased Demand
US Pectin Prices Surge at the End of Q3 2023 Amidst Increased Demand

US Pectin Prices Surge at the End of Q3 2023 Amidst Increased Demand

  • 10-Oct-2023 3:54 PM
  • Journalist: Nina Jiang

As Q3 ended, Pectin prices steadily rose all over the United States. Pectin consumption increased consistently in the end-user food and beverage, bakery, and pharmaceutical industries over previous months, which kept regional market inquiries surging. This was further attributed to disrupted trade momentum from exporting nations, weather disruption resulting in lessened availability of upstream material, and limited stockpiles among the importing regions.

As per the market participants, the incremented price trend of Pectin was supported by the consistently fluctuating market activity of upstream citrus fruits within exporting regions across the APAC owing to the arrival of peak season for many citrus fruits in China, such as oranges, tangerines, and lemons considered as one of the primary upstream citrus fruits to produce Pectin. The citrus fruit crops were impacted by the Hurricane's arrival in late August. In recent months, China has been affected by the availability of these products within the regional and overseas markets. Trees were uprooted, branches were broken, and the hurricane winds harmed fruit. Certain citrus trees and fruit were harmed by the Hurricane's accompanying flooding, which weakened the availability of upstream material and further resulted in an overall price hike in both feedstock and downstream sectors. This was one of the major factors that sustained this upward pricing chart for Pectin during this month. In addition to these factors, the surge in Pectin prices in September 2023 may also have been due to seasonal fluctuations in demand. Pectin is often used in food and beverage products that are popular during the holiday season, such as jams, jellies, and pies. As a result, demand for Pectin typically increases in the following months.

Moreover, considering the accessibility of citrus fruits across the United States, the fruits are majorly grown in certain states like Florida, California, Arizona, and Texas. The harvesting season for these fruits runs from the end of spring, with the major season being winter. In September 2023, the availability of citrus fruits was good, and the demand for its end product, such as Pectin, remains moderately on the higher side, resulting in a positive market situation. Overall, as per the market estimation by ChemAnalyst, the price of Pectin is anticipated to increase at a moderate level in the upcoming month. Importing activities will likely improve as merchants will witness a rise in the consumption of baked, dairy, jellies, etc, and related products. Further, if the cost of fuel and input charges rises, the overall trade activity might witness a positive trend during the upcoming months.

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