For the Quarter Ending December 2025
North America
• In USA, the Citric Acid Price Index fell by 0.33% quarter-over-quarter, driven by subdued demand.
• The average Citric Acid price for the quarter was approximately USD 794.33/MT, in major gateways.
• Stable Citric Acid Spot Price action held the Price Index near levels amid balanced supply.
• Citric Acid Price Forecast indicates modest upside from seasonal restocking, tempered by plentiful import availability.
• Observed Citric Acid Production Cost Trend remained subdued as energy and corn-dextrose costs showed change.
• Citric Acid Demand Outlook stayed muted with beverage and detergent sectors drawing down inventories ahead.
• Elevated imports pressured the Citric Acid Price Index as warehouses increased inventories, prompting discounted offers.
• Anti-dumping review revived coverage risk, yet stable logistics and steady plant utilization restrained price volatility.
Why did the price of Citric Acid change in December 2025 in North America?
• Abundant Asian shipments and ample U.S. import stocks pressured prices, outpacing subdued near-term domestic demand.
• Stable energy and corn-dextrose feedstock costs limited upward cost signals, keeping production economics recently benign.
• Balanced freight and unobstructed arrivals reduced logistical premiums, while duty review prompted cautious importer coverage.
APAC
• In South Korea, the Citric Acid Price Index rose by 0.33% quarter-over-quarter, reflecting balanced import flow
• The average Citric Acid price for the quarter was approximately USD 705.67/MT in local CFR assessments
• Steady import arrivals kept the Citric Acid Spot Price anchored, limiting upside despite seasonal restocking interest
• Citric Acid Demand Outlook remained neutral as beverage and detergent makers maintained offtake supporting Price Index
• Flat feedstock and energy costs kept the Citric Acid Production Cost Trend subdued, constraining producer margin
• Short-term Citric Acid Price Forecast projects downside risk as ample Chinese exports and steady freight persist
• Distributor inventories remained adequate, which pressured the Citric Acid Price Index and widened bid-offer spreads slightly
Why did the price of Citric Acid change in December 2025 in APAC?
• Sustained Chinese export availability maintained import volumes, preventing tightening and exerting downward pressure on local prices
• Stable feedstock and energy costs left production input inflation muted, restraining any robust upward pricing momentum
• Uncongested Busan logistics and normal vessel schedules ensured timely cargo arrivals, keeping distributor inventories comfortably supplied
Europe
• In Germany, the Citric Acid Price Index rose by 13.52% quarter-over-quarter, reflecting tight spot availability.
• The average Citric Acid price for the quarter was approximately USD 1623.33/MT across Hamburg trade.
• Citric Acid Spot Price weakened in December as CIF imports and elevated inventories pressured competition.
• Citric Acid Price Forecast suggests upside into early 2026 driven by restocking and constrained imports.
• Citric Acid Production Cost Trend showed feedstock pressure easing after duty changes and glucose availability.
• Citric Acid Demand Outlook remains supportive from beverages, detergents and pharmaceuticals despite softer industrial orders.
• Citric Acid Price Index volatility reflected restocking, exporter competition, and currency pass-through impacting CIF parity.
• Inventories at Hamburg hubs normalized after restocking, moderating short-term Citric Acid Spot Price fluctuations mildly.
Why did the price of Citric Acid change in December 2025 in Europe?
• Increased CIF import arrivals and competitive landed offers pressured domestic sellers, driving downward parity adjustments.
• Strong Q4 restocking from beverages and cleaners supported demand, partially offsetting import-induced price weakening modestly.
• Currency strength and reduced producer operating rates lowered landed costs while tightening domestic supply availability.
South America
• In Argentina, the Citric Acid Price Index rose by 0.30% quarter-over-quarter, due to import flows and steady demand.
• The average Citric Acid price for the quarter was approximately USD 779.33/MT, CFR Buenos Aires.
• Citric Acid Spot Price movements showed volatility as Buenos Aires CFR quotes oscillated within a narrow band.
• Short-term Citric Acid Price Forecast indicates modest gains driven by restocking, logistics tightness and origin cost upticks.
• Citric Acid Production Cost Trend remained subdued as stable freight and feedstock pricing limited inflationary pressures.
• Citric Acid Demand Outlook shows seasonal restocking by beverage manufacturers supporting consumption increases into summer.
• Inventory builds at ports pressured the Citric Acid Price Index as distributors discounted to clear import stocks.
• Operational stability at overseas plants limited supply shocks, influencing Argentina import coverage and shaping local price levels.
Why did the price of Citric Acid change in December 2025 in South America?
• Steady import arrivals kept port inventories ample, reducing urgency and pressuring spot offers through December.
• Novel fermentation process gains increased global availability, enabling aggressive export quotations into the Argentine market.
• Soft downstream buying and substitution toward alternative acidulants weakened demand, amplifying downward pressure on prices.
For the Quarter Ending September 2025
North America
• In the USA, the Citric Acid Price Index fell by 1.44% quarter-over-quarter, reflecting weaker restocking.
• The average Citric Acid price for the quarter was approximately USD 797.00/MT, and supply discipline.
• Citric Acid Spot Price remained range-bound amid ample inventories and modest logistical delays influencing short-term.
• Citric Acid Price Forecast shows moderate upside risk as importers replenish ahead of Q4 disruptions.
• Citric Acid Production Cost Trend reflected higher feedstock pressures earlier, then easing in transport costs.
• Citric Acid Demand Outlook is steady driven by food, pharmaceutical, and personal care sector procurement.
• Citric Acid Price Index volatility moderated in September as balanced weekly moves reflected moving averages.
• Export demand softness and stable U.S. port operations limited upward momentum despite occasional shipment delays.
Why did the price of Citric Acid change in September 2025 in North America?
• Supply tightness from Chinese utility curbs and feedstock inflation increased import landed costs, constrained volumes.
• Cautious restocking and ample inventories led buyers to limit purchases, muting sharper price movements short-term.
• Freight rate volatility, port congestion and hurricane-related inland disruptions raised short-term transport premiums and delays.
APAC
• In South Korea, the Citric Acid Price Index fell by 1.45% quarter-over-quarter, reflecting import adjustments.
• The average Citric Acid price for the quarter was approximately USD 703.33/MT CFR Busan basis.
• Citric Acid Spot Price showed modest gains, supported by stable imports and improving downstream procurement.
• Citric Acid Price Forecast projects range-bound movement influenced by inventory adjustments and cautious buyer behaviour.
• Citric Acid Production Cost Trend eased as corn feedstock prices softened, reducing exporter cost pressures.
• Citric Acid Demand Outlook remained resilient from food, beverage, and pharmaceutical sectors, sustaining import requirements.
• Citric Acid Price Index pressure moderated as normalized freight and consistent Chinese exports stabilized offers.
• Inventory adjustments and cautious stocking limited volatility, leaving short-term trading range-bound despite mild procurement upticks.
Why did the price of Citric Acid change in September 2025 in APAC?
• Chinese export availability tightened slightly, while importer restocking increased short-term supply-demand imbalance affecting Price Index.
• Corn feedstock cost easing reduced upstream production costs, while lower freight rates improved landed economics.
• Sustained consumption from food, beverage, and pharmaceutical sectors, while cautious buying preserved price support overall.
Europe
• In Germany, the Citric Acid Price Index fell by 3.26% quarter-over-quarter, driven by logistics strain.
• The average Citric Acid price for the quarter was approximately USD 772.67/MT, reflecting restocking activity.
• Citric Acid Spot Price softened as Chinese export discounts pressured domestic spot availability and margins.
• Citric Acid Price Forecast indicates a flat Price Index amid balanced supply and cautious buying.
• Citric Acid Production Cost Trend eased as lower corn and energy costs reduced producer margins.
• Citric Acid Demand Outlook reflects restocking in food, beverage and detergent, balanced by cautious buying.
• Inventory replenishment during summer alleviated shortages, while export demand and retailer uptake tightened spot availability.
• Logistics disruptions, port congestion and routing elevated inland freight, modestly supporting Citric Acid Price Index
Why did the price of Citric Acid change in September 2025 in Europe?
• Port congestion and Rhine low water forced rerouting, extending transit times and increasing freight costs.
• Robust restocking across food, pharmaceutical and detergent sectors depleted inventories, tightening immediate availability for buyers.
• Reduced Chinese export prices and steady domestic production moderated upward pressure, creating mixed market signals.
South America
• In Argentina, the Citric Acid Price Index fell by 1.48% quarter-over-quarter, driven by import weakness.
• The average Citric Acid price for the quarter was approximately USD 777.00/MT, reflecting landed costs.
• Citric Acid Spot Price held firmer than export offers, while Price Index showed limited upside.
• Citric Acid Price Forecast indicates modest near-term volatility driven by seasonal buying and logistical constraints.
• Citric Acid Production Cost Trend eased as corn costs fell, reducing pressure on Price Index.
• Citric Acid Demand Outlook remains supportive in food and beverage sectors, sustaining steady procurement volumes.
• Inventory dynamics and import dependence left the Citric Acid Price Index sensitive to freight delays.
• Citric Acid Spot Price fluctuated as exporters adjusted shipments, producing firmness amid weak global demand.
Why did the price of Citric Acid change in September 2025 in South America?
• Export oversupply from primary suppliers reduced international offers, transmitting downward pressure to Argentine CIF prices.
• Freight delays and port congestion caused short-term tightness, producing minor price upticks despite global softness.
• Lower feedstock costs and better logistics reduced costs, limiting upside for Citric Acid Price Index.
For the Quarter Ending June 2025
North America
• Q2 Citric acid spot price displayed a volatile but overall upward trajectory, with prices averaging 810 USD/MT in April, dipping slightly in May (-0.62%), before rebounding in June to 811 USD/MT (+0.75% MoM)—an average quarter-over-quarter (QoQ) fluctuation of approximately +0.67%. Notably, June 2025 saw record spot price acceleration, fueled by tight global supply and higher production costs.
• The Citric acid price forecast remains bullish for July, with June’s surge resulting from global supply disruptions, especially Chinese plant shutdowns, import tariffs, and a weakened dollar, each amplifying import costs for North American buyers.
• Citric acid production cost trend escalated due to higher Asian-origin feedstock prices and increased freight and utility rates, compounded by supply-side shocks from China and tight availability.
• The 10% baseline import tariff introduced in April sustained cost pressures, incentivizing buyers to secure additional inventory in anticipation of further price increases.
• Import reliance was acute, as domestic output stayed stagnant while logistical flows through Atlantic and Gulf ports operated efficiently despite high landed costs.
• Early Q2 saw downstream demand strength particularly from processed foods, carbonated beverages, and skincare/personal care lines, supporting steady spot demand despite broader inflation concerns.
• May’s market correction reflected a temporary oversupply, with end-users reducing new orders to clear inflated Q1 inventories, triggering price softness and retailer discounting.
• By June, Citric acid demand outlook shifted disciplined; end-users responded to looming supply constraints by accelerating procurement and building strategic reserves, reinforcing upward price momentum.
• June 2025 was characterized by exceptional price hikes, with US importers accepting higher CFR prices as persistent supply shortages and robust downstream demand created a sellers’ market.
• Looking forward, the Citric acid demand outlook suggests sustained tightness, with persistent production cost volatility and dynamic global trade policies expected to uphold elevated price levels into Q3.
APAC
• Q2 Citric acid spot price in China showed moderate volatility with a sharp upturn into June: April’s average was 695 USD/MT (+2.96%), May dipped below 690 USD/MT (-0.72%), and June rose to 696 USD/MT (+0.87% MoM), yielding an average QoQ price movement of +1.03%. June 2025 marked an inflection point, with spot prices reaching historic highs amid global supply shocks.
• Citric acid price forecast across APAC is bullish, with June’s escalation attributed to prolonged plant maintenance, supply chain disruptions, and geopolitical instability impacting international availability.
• Citric acid production cost trend was pressured upward by rising corn prices (key feedstock), outbound freight surges, and constrained refinery operations caused by maintenance shutdowns and limited raw material supply.
• In April, modest Yuan depreciation mildly supported exports, but lean domestic inventories and conservative procurement kept spot price volatility low.
• New US tariffs sparked frontloaded procurement and outbound shipments in early Q2, supporting exports before anticipated cost rises.
• May 2025 saw weaker demand and price declines due to macroeconomic softness, an appreciating Yuan curbing competitiveness, and surplus inventories prompting aggressive price cuts.
• Geopolitical turbulence in June, notably Middle East conflict, intensified upstream cost pressures and contributed to volatile supply chains, with downstream buyers scrambling for supply in anticipation of further curbs.
• Citric acid demand outlook remains exceptionally robust, led by processed foods, beverage, biofuel, and pharmaceutical sectors—especially as brands prioritize natural preservatives and shelf-life extension for summer product lines.
• Smaller producers seized market share during large plant shutdowns, pushing prices higher as baseline inelastic demand from food, pharma, and cosmetics absorbed higher offers.
• Spot prices in June 2025 spiked rapidly; with inventory thinning and new orders outpacing supply, export quotations are set to remain elevated well into Q3, sustaining bullish sentiment.
Europe
• Q2 Citric acid spot prices in Europe fluctuated sharply: April at 1315 EUR/MT (+5.62%), down in May to 1305 EUR/MT (-0.76%), and steeply up in June to 1350 EUR/MT (+3.45%), amounting to an average quarterly price increase of +2.77%. June 2025 reached new highs amid global scarcity.
• The Citric acid price forecast for Europe signals a market skewed toward high prices as supply constraints—stemming from Asian export reductions and logistical congestion—persist.
• Supply chain bottlenecks, especially around major holidays and persistent port congestion in Northern Europe, delayed shipments and contributed to sporadic inventory replenishment, fueling price volatility.
• Europe’s Citric acid production cost trend moved higher in Q2, driven by rising corn input prices and elevated transportation and import costs, offset only partially by declining energy prices in June.
• April’s demand was especially firm in food, pharma, and eco-friendly cleaning sectors, as downstream buyers scrambled to hedge against further rises in baseline raw material costs.
• May experienced a sharp reversal, with pronounced oversupply resulting from April’s stock-building spree and slowed demand—creating negative spot price movement and prompting just-in-time procurement strategies.
• June 2025 saw a robust demand rebound across all key application sectors, including a surge from sustainable and green product manufacturers amid tightening inventories and renewed industrial confidence.
• As Asian supply waned, Belgium’s exporters capitalized, finding ready buyers among European neighbors facing similar shortages and elevated spot pricing.
• Industrial sentiment improved through late Q2, as signaled by reduced contraction in manufacturing PMIs and a resurgence in new order activity.
• The Citric acid demand outlook across Europe points to continued premium pricing, elevated by strategic inventory builds, heightened exporter leverage, and sustained end-use growth in bio-based and health products.
South America
• Q2 Citric acid spot price in Argentina experienced overall upward pressure, with April at 790 USD/MT (+2.60%), May slipping to 785 USD/MT (-0.63%), and June jumping to 791 USD/MT (+0.76%), for a quarterly average gain of +0.91%. June 2025 led with price volatility intensified by global supply shortages.
• Citric acid price forecast into Q3 remains bullish, as June’s increase followed international supply curtailment from China, reallocating global trade flows and compressing available inventories.
• Citric acid production cost trend in Argentina was dictated by global swings, notably elevated international corn and freight rates, imported raw materials, and higher energy prices, all pushing delivered costs higher.
• April’s market saw price escalation driven less by local factors and more by international pricing sentiment, as buyers hedged against anticipated rise in spot and import prices due to global market firmness.
• Import reliance left Argentina exposed to shifts in Chinese and Belgian supplier pricing and trade routes, with local producers maintaining minimal influence.
• May price corrections reflected a glut of Chinese cargos—diverted following temporary Argentine tariff fluctuations—exacerbating short-term oversupply and buyer caution.
• June’s surge was aggravated by geopolitical disruptions in the Middle East, hindering shipping lanes and injecting fresh volatility into landed costs for importers.
• The Citric acid demand outlook remained fundamentally steady, with food processing, beverage, and pharmaceutical sectors maintaining resilient offtake even as overall economic expansion stalled.
• Despite healthy underlying consumption, margin compression emerged as rising import prices outpaced downstream manufacturers’ ability to pass through costs.
• For the balance of 2025, Argentina’s spot price outlook remains sensitive to global supply normalization, as sustained high production and logistics costs may prompt industrial demand substitution or cautious procurement if volatility endures.
For the Quarter Ending March 2025
North America
In Q1 2025, the U.S. Citric Acid market saw a fluctuating price trend, driven by varying demand, inventory levels, and supply chain disruptions. January began with a decline in prices, down by 3%, due to weak demand from industries like pharmaceuticals and food processing. Elevated inventories and global oversupply, particularly from China, compounded the downward pressure, while logistical delays at U.S. ports added to market uncertainty.
February saw the continuation of this bearish trend, though at a slower pace, as demand remained sluggish and inventories built up in anticipation of potential tariffs. However, improvements in logistics and reduced freight costs from China helped keep prices low, with domestic suppliers adjusting to the competitive import market.
The tide turned in March, as prices began to rise, driven by a combination of steady end-user demand, particularly from the pharmaceutical and food sectors, and disruptions caused by new tariffs on Chinese imports. The anticipation of further price increases prompted preemptive buying, which, alongside port congestion and limited supply, led to tighter market conditions. As a result, March experienced a significant price increase, reversing the trend seen in the first two months of the quarter. Overall, Q1 2025 was marked by volatility, with prices initially declining before rebounding sharply in March.
Asia Pacific
In Q1 2025, South Korea's Citric Acid market experienced fluctuating prices due to a mix of supply, demand, and logistical factors. January saw a significant price dip driven by ample supply and intense competition among Asian suppliers. Elevated inventory levels and favorable procurement conditions for buyers, ahead of the Lunar New Year, contributed to this decline.
In February, prices continued to decrease as demand softened in key sectors like pharmaceuticals and food & beverages, which had stockpiled before the holiday. Improved production efficiency, steady imports, and reduced logistical costs, such as lower ocean freight rates, further pressured prices down. However, March witnessed a moderate price increase due to minor logistical disruptions at major ports like Busan and Incheon, causing delays and higher handling costs.
Additionally, a slight depreciation of the South Korean won contributed to a marginal rise in import costs. Despite these factors, demand remained steady, particularly in the food and beverage, pharmaceutical, and personal care industries, stabilizing prices. Overall, Q1 2025 saw a buyer-friendly market with prices pushed down in the first two months, followed by a slight increase in March due to supply chain challenges and macroeconomic pressures.
Europe
The Citric Acid market in Germany experienced significant price fluctuations in Q1 2025. January saw a sharp price decline of -3.61%, driven by ample supply from Asian suppliers and high inventory levels. Despite logistical disruptions, including blank sailings that impacted lead times, the oversupply situation and competitive offers favored buyers, pushing prices lower.
This downward trend continued into February, where weak demand from key sectors like pharmaceuticals and food, coupled with improved production and steady imports, further pressured prices. The appreciation of the euro against the U.S. dollar and reduced ocean freight rates amplified this downward movement, as suppliers focused on clearing excess stock.
However, March marked a sharp reversal in pricing. Severe port congestion and labor strikes in major northern European ports, especially Hamburg, led to tighter supply, boosting supplier pricing power. At the same time, steady procurement from industries like food, cosmetics, and pharmaceuticals, along with easing inflation, prompted restocking ahead of Q2. These factors combined to push prices upward, reversing the earlier downward trajectory. Overall, Q1 2025 witnessed a volatile price trend for Citric Acid in Germany, influenced by supply chain disruptions, changing demand dynamics, and inventory levels.
South America
In Q1 2025, the Citric Acid market in Argentina saw fluctuating price trends, beginning with a significant dip in January. This decline was driven by oversupply, with heightened competition from Asian suppliers, particularly China, and ample inventories ahead of the Lunar New Year. Buyers took advantage of favorable market conditions, locking in advantageous contracts as prices continued to fall.
February maintained the downward trajectory, with weak demand from key sectors such as food processing and pharmaceuticals, and an excess of stockpiled product. The market was further pressured by reduced transpacific freight rates and declining logistics costs, which made imports more competitive. However, March saw a shift, with prices beginning to stabilize and rise slightly. This was attributed to supply chain disruptions at ports, inflationary pressures, and the depreciation of the Argentine Peso.
Despite these factors, sufficient domestic supply prevented sharp price increases. Demand remained steady, with no significant spikes in consumption, particularly from the food, beverage, and pharmaceutical sectors. Overall, while Q1 began with a price decline, the market found a balance by March, with supply-side factors contributing to a mild price increase, reflecting a stable but cautious market environment.
