For the Quarter Ending March 2024
North America
During the first quarter of 2024, the Sorbitol market in North America experienced notable price fluctuations influenced by several factors, resulting in a volatile pricing environment. The quarter concluded with Sorbitol priced at USD 820/MT CFR New York, showing an average quarterly increase of 2.73%.
A significant driver of these price changes was the sustained demand from the downstream sector, prompting bulk orders and subsequent proactive price hikes by market participants. Geopolitical tensions and trade disruptions, such as disturbances in crucial shipping routes like the Red Sea and the Suez Canal, also played a role in the price volatility. These disruptions led to higher freight charges and logistical bottlenecks, further impacting pricing dynamics. North America's heavy reliance on Sorbitol imports, particularly from China, was a notable factor influencing market trends. Fluctuations in Chinese production, including pauses during the Lunar New Year and Spring Festival, resulted in constrained shipments and limited US inventories, prompting market players to adjust their quotes to protect profit margins.
Towards the end of the quarter, Sorbitol prices experienced a decline, though this shift did not significantly alter the overall trajectory. As the quarter ended, market participants engaged in inventory management practices to destock existing inventories, preparing for replenishment with fresh supplies. This strategic pricing adjustment aimed to optimize inventory levels and maintain liquidity within the market, creating a foundation for a more sustainable trading environment going forward.
Asia Pacific
In the first quarter of 2024, the pricing of Sorbitol in the Asia-Pacific (APAC) region remained mostly stable, with some fluctuations in specific countries. In conclusion, the latest quarter-ending price for Sorbitol in China was USD 665/MT FOB Shanghai with an average quarterly incline of 0.06%. The demand for Sorbitol from industries like pharmaceuticals and food processing stayed consistent, supporting prices and maintaining a positive market sentiment. In February 2024, prices increased due to higher demand and low inventories, exacerbated by production slowdowns during the Chinese Lunar New Year and Spring Festival. Rising freight costs and logistical challenges further reduced availability.
After the holidays, there was a surge in purchasing both domestically and internationally, driven by consumer confidence and favorable sentiment, with traders benefiting from the Chinese currency depreciation against the USD. Suppliers adjusted prices to match heightened demand, and traders secured bulk orders in anticipation of shortages. Additionally, the increase in raw material Corn starch prices also contributed to the rise in Sorbitol prices. In March, sustained demand from Chinese end-users led to higher Corn starch prices, prompting increased production. When the market reopened after the holidays, prices surged due to the production ramp-up to meet domestic demand.
The pricing trends for Sorbitol in the APAC region in the first quarter of 2024 were generally stable, although prices did decrease at the start of the quarter. This drop was influenced by year-end destocking activities from the previous month, which had a notable impact on market dynamics. Additionally, weakened demand downstream and sufficient inventories put pressure on Sorbitol pricing. In the Chinese market specifically, Corn starch prices also saw a decline due to weak demand.
Europe
During the first quarter of 2024, Sorbitol pricing in the European market, specifically FOB Le Havre in France, underwent fluctuations influenced by several factors. The quarter concluded with Sorbitol priced at USD 1280/MT, marking a modest average quarterly incline of 4.91%.
The Sorbitol market generally experienced an upward price trend, mainly due to heightened demand from downstream sectors. This increased demand placed substantial pressure on prices. Moreover, global supply chain disruptions, particularly in the Red Sea region, caused shipment delays and extended lead times. These disruptions, combined with shortages of crucial goods and materials, contributed to the price surge. Currency fluctuations, notably the Euro's depreciation against the dollar, added another layer of complexity. The rising costs of imported materials denominated in USD affected traders and buyers, compelling them to accept goods at higher prices amidst escalating freight charges. Additionally, the increase in downstream sector demand, limited stock availability, and supply chain disruptions all played roles in driving prices up.
Market participants adjusted their pricing strategies to maximize profit margins, although prices did decrease towards the end of Q1 2024 marginally due to improved product availability, easing concerns about supply shortages and exerting downward pressure on prices. Despite these developments, challenges persist due to low demand, sluggish purchasing activity, weakened consumer confidence, and decreased freight costs further influencing prices.
For the Quarter Ending December 2023
North America
In the fourth quarter of 2023, the Sorbitol market in North America experienced stable sentiments. In October, there was a slight decrease in prices, primarily attributed to the abundant supply of Sorbitol in the domestic market. Additionally, the main raw material for Sorbitol, Corn starch, showed recent vulnerability due to fluctuations in prices in the domestic corn market. The low-cost raw material environment prompted enterprises to successively reduce the factory price of starch, resulting in a modest downturn in domestic corn starch market prices.
Towards the end of the month, sporadic corn entries from the northeast production area, coupled with optimistic expectations of a high yield of new season corn, continued to exert downward pressure on domestic corn market prices, consequently impacting domestic corn starch market prices. Furthermore, downstream sectors increasingly adopted a just-in-time purchasing approach.
In the latter half of Q4, prices saw a marginal increase, with the latest settlement price of Sorbitol 70% Solution CFR New York in the USA reaching USD 760/MT. This price reflected a 0% average quarterly change, signifying stability in the market. The main factors contributing to these price fluctuations were the balance between supply and demand, sufficient inventories in the market, and positive demand outlook from downstream sectors. The market was driven by the equilibrium between supply and demand, along with ample inventories and optimistic sentiments from downstream sectors.
Asia Pacific
The Sorbitol market in the APAC region faced challenges during the fourth quarter of 2023. At the outset of Q4, prices exhibited a downward trend primarily due to elevated inventory levels among market players, resulting in reduced production. The weakened demand in the nation's downstream industry and a lack of new Sorbitol inquiries from both local and international markets contributed to this unfavorable trend. Concurrently, high inventories held by domestic manufacturers and retailers to meet general demand further supported this market trend. Additionally, a decline in production costs was observed due to lower domestic market prices for the raw material, Corn starch. The harvesting of corn in Northeast China's production areas began, leading to a comprehensive decline in domestic corn market prices after the National Day holiday. However, by the start of November, prices started to rise as the market experienced increased demand for Sorbitol, resulting in bulk orders and inventory restocking, thereby tightening the market. Moreover, power outages raised generation costs and impacted demand from domestic consumers. Market players responded by replenishing their inventories through bulk orders, contributing to tight market sentiments. This strategic approach proved essential in maintaining equilibrium within the supply-demand dynamics, allowing for a measured response to market fluctuations. Additionally, the strengthening of exchange rates and the Chinese currency RMB against the USD also played a role in the tight market sentiment. The latest price of Sorbitol 70% Solution FOB Shanghai in China for the current quarter is USD 664/MT, showing an average quarterly increase of 0.22%.
Europe
In the final quarter of 2023, there were noticeable fluctuations in the pricing of sorbitol, a widely used polyol in various industries. Initially, the market witnessed a decrease in prices, contrary to the expectations of many experts and traders who had strategically accumulated stocks in anticipation of an upswing in demand from downstream sectors. This anticipation was based on the expectation of a higher volume of inquiries, leading to proactive stockpiling of excipients. However, the market took an unexpected turn, prompting merchants to adjust their inventory levels in response to the evolving situation. A significant contributing factor to the price decrease was the robust harvest of raw material corn in France for the year 2023, setting a record in production and meeting expectations. The abundance in domestic corn supplies exerted downward pressure on sorbitol prices. Despite this, prices experienced a mid-quarter rise, which could be attributed to heightened demand during the holiday season, increased baking activity, or pre-stocking by food manufacturers in anticipation of festive demand. The latest recorded price for Sorbitol 70% Solution FOB Le Havre in France for the current quarter is USD 114/MT, reflecting an average quarterly increase of 0.52%. This dynamic pricing scenario highlights the intricate interplay between market expectations, agricultural production, and seasonal demand in shaping the trajectory of sorbitol prices.
For the Quarter Ending September 2023
North America
Throughout the third quarter of 2023, Sorbitol prices in North America exhibited a steady pattern of fluctuations. Specifically, the prices for Sorbitol 70% Solution CFR New York were initially assessed at $760 per metric ton in July but subsequently dropped to the same price in September, resulting in an average quarterly decrease of 2.00%. This downward trend in Sorbitol prices in North America, particularly in the United States, was primarily driven by the increased availability of Sorbitol due to ongoing harvests in major exporting countries in the northern hemisphere. Challenges faced by U.S. corn crops, such as hot and dry conditions, particularly in the northern regions where the crops were still developing, significantly contributed to this decline. As recent as late April, severe drought in the western part of the United States forced many farmers to abandon their crops. However, Sorbitol prices saw a substantial decrease from their peak in late June during July. This decline can be attributed to the onset of the harvesting season, aided by rains in July, which played a crucial role in crop development, counteracting the earlier dry conditions and hot summer temperatures. Furthermore, a notable harvest in Brazil added to the factors influencing this decline in Sorbitol prices. Brazil was poised to surpass the United States as the world's leading corn exporter, resulting in an excess supply of Sorbitol from Brazil that reduced demand for U.S. corn exports, further contributing to the price drop. Despite a robust domestic harvest that increased Sorbitol stocks, the market experienced an oversupply of Sorbitol, putting further downward pressure on prices. Additionally, the decrease in American corn exports was linked to reduced purchases, adding to the factors driving the decline in Sorbitol prices during this period.
Asia Pacific
In the third quarter of 2023, there was a consistent price fluctuation for Sorbitol in the APAC region. Sorbitol 70% Solution FOB Le Havre prices went from $980 per metric ton in July to $1100 per metric ton in September, resulting in an average quarterly increase of 0.61%. The price drop in July was influenced by pressures from the domestic corn market, leading to minor reductions in Sorbitol factory prices in certain areas and a subsequent slight decrease in domestic Sorbitol market prices. However, by the end of the month, as corn prices stabilized, the Sorbitol market regained stability. Towards the end of the month, sporadic corn entries in the northeast production area, coupled with optimistic expectations for a high yield of new-season corn, continued to push down domestic corn market prices. This, in turn, negatively affected domestic Sorbitol market prices due to ample inventories and sluggish demand. Nonetheless, prices rebounded in the middle of the third quarter. This rebound was driven by the persistent strength of the domestic corn market, fluctuating but eventually stabilizing raw material costs, and increased demand for starch after the summer season. These factors, supported by cost considerations and rising demand, contributed to the sustained strength of the domestic Sorbitol market. By the midpoint of the year, domestic corn market prices saw a slight increase, raw material costs fluctuated but eventually stabilized, and Sorbitol market prices also achieved stability.
Europe
During the third quarter of 2023, there were notable fluctuations in the pricing of Sorbitol within the European market. The European region experienced consistent price volatility during this period. In July, Sorbitol 70% Solution FOB Le Havre (France) was available at $650 per metric ton, but by September, the price for Sorbitol CFR Antwerp (Belgium) had fallen to $660 per metric ton. This resulted in an average quarterly decrease of 1.68%. The price drop in July was especially significant and had a negative impact on consumption in the food and industrial sectors. This situation was exacerbated by a recent increase in inflation, which led to higher production and transportation costs for corn, further contributing to the downward pressure on Sorbitol prices. Additionally, local traders who held significant corn reserves played a role in worsening the situation by reducing their price quotes as a strategic measure to offset potential losses, thereby adding more pressure to the market. The overall conditions in the corn market, characterized by low production costs and ample domestic inventories, influenced the direction of Sorbitol prices. The surplus supply of corn had a downward effect on prices in both Germany and Belgium, two major exporting nations for corn.
For the Quarter Ending June 2023
North America
In the second quarter of 2023, Sorbitol prices in the US market fell significantly due to sporadic fluctuations between supply and demand during the month. The price was valued at the end of Q2 2023, representing an average quarterly decline of 4.01%. In the beginning, because of improved dynamics of supply and demand, the CFR New York values of Sorbitol in the US market dramatically increased. Trade between Asia and the United States has increased since the exit from the zero-tolerance policy. There is a slight shortage of sorbitol on domestic warehouse shelves due to increased demand from end-user suppliers. Rising raw material prices for glucose also supported the upward trend. Subsequently, weaker market conditions were observed as sorbitol prices slumped and prices stabilized amid recent average demand across most of the downstream markets. In addition, upstream glucose prices are trending downward this month. Energy costs, a major input cost factor in glucose production, have fallen in recent months due to the slowdown in the global economy, and falling oil prices further supported the downward trend in sorbitol. Sorbitol is available in powder form as seasonal changes deplete existing stocks, which also led to a market downturn. Falling prices have also made retailers reluctant to place bulk orders. Market leaders are expected to cut prices further in the coming months. The price of glucose, a raw material, also fell due to oversupply and increased production.
Asia
The market price of Sorbitol collectively declined significantly in the second quarter of 2023, driven by weak domestic and international demand. The price was valued and acquired at the end of Q2 2023, with an average quarterly decline of 0.93%. At the start of the second quarter, most of the uptrend was due to increased demand from end-use industries, including the food and beverage sector. In addition, the rise in commodity prices of glucose and the increase in production rates to replenish inventories with fresh stocks and meet future demand market conditions also continued to perform well. OPEC+'s abrupt production cut announcement and improved demand outlook in China also contributed to the strong performance of the sorbitol market. Moreover, China's exports continued to see improvement in trade activity in April. Higher energy prices and higher production costs also impacted the favorable market conditions. After that, the price of sorbitol in the Chinese market was on a downward trend due to the downward trend in the price of raw material glucose. Uncertainty in downstream inquiries also continued the market downturn this month. Demand for sorbitol from the downstream food and beverage, cosmetics and preservatives industries declined as the trading process was halted due to uncertain economic conditions and rising inflation. Stocks of sorbitol increased as the company increased its production speed. Ingredient suppliers offered glucose cheaply on the spot market, thus reducing cost support for sorbitol. Sources from key market participants said buyers were shying away from large orders out of fear of further price declines.
Europe
In the second quarter of 2023, the sorbitol market witnessed an optimistic trajectory. Sorbitol prices increased by an average quarterly inclination of 5.48%. Sorbitol's price trajectory witnessed a major upward trend. The market's fundamentals revealed that rising domestic demand was the main driver of higher prices for Sorbitol in April. The market in France will likely be driven by new production in exporting nations in response to rising demand and high energy prices. Also, increased feedstock dextrose monohydrate prices further supported the upward trend. The market situation in France in May 2023 is mixed. The war in Ukraine, rising energy prices, and supply chain disruptions are all weighing on the economy. The slowdown is likely to continue in the coming months. The prices of energy and freight, which are important inputs in the production of Sorbitol, fluctuated in May. This led to instability in the price of Sorbitol. The French economy showed signs of recovery in June, which led to an increase in demand for logistics services. This was particularly evident in the e-commerce sector, where online sales continued to grow. The rising cost of fuel and other inputs put upward pressure on prices for logistics services. This was particularly evident in the air freight sector, where prices rose by double digits in June. The European Central Bank is expected to raise interest rates in the coming months, which could put some downward pressure on inflation.
For the Quarter Ending March 2023
North America
The dynamics of the Sorbitol market in North America fluctuated throughout the first quarter. Due to a fall in demand from downstream industries, such as the pharmaceuticals sector, prices fell in the first month of the quarter. Prices rose in the second half of the quarter as a result of the local market's ongoing growth in the food and beverage industries. As people's concerns about their health grew, the product's demand in the local market increased. Confectionery sales and low-calorie diet drinks are the two main elements influencing the market's mood. The rising trend in feedstock and sugarcane costs also had a proportionate effect on sorbitol pricing in the local market. Toward the end of the quarter, the prices were assessed around USD 920/MT for CFR New York in March.
Asia Pacific
Sorbitol prices fluctuated in the Asia-Pacific market during the first quarter of 2023. Due to a decline in demand from end-use sectors, prices declined during the first month of the quarter. The start of China's spring festival caused a delay in demand for downstream sectors. The pharmaceutical industry's activity remained the main motivator of the local market's attitudes. Due to rising domestic feedstock, corn, and sugarcane prices in the final month of the quarter, the cost of making Sorbitol in the Asia-Pacific region increased. Due to the backed-up cargo and packed ports, moving feed between the source and producer was difficult. Toward the end of the quarter, the prices were assessed around USD 720/MT for FOB Le Havre in March.
Europe
Sorbitol market sentiments in Europe fluctuated in the first quarter of 2023 because of unstable feedstock corn and sugarcane costs in the local market. A decrease in demand from end-use industries during the first month of the quarter caused prices to fall. The local market experienced a high operating rate since demand from downstream feeds, bakeries, and beverages was static. The cost of natural gas also increased the cost of production and feedstock. The cost of producing Sorbitol at home has increased due to rising natural gas prices and supply issues. Demand has an effect on how Sorbitol is perceived in the local market, notwithstanding weak demand in the final month of the quarter. Toward the end of the quarter, the prices were assessed around USD 930/MT for FOB Le Havre in March.
For the Quarter Ending December 2022
North America
The dynamics of the Sorbitol market in North America fluctuated throughout the fourth quarter. Prices decreased in the first month of the quarter as a result of a decline in demand from downstream industries, including the pharmaceuticals sector. In the second half of the quarter, prices increased because of the local market's continuing expansion of the food and beverage sectors. The local market saw an increase in demand for the product as people's concerns about their health grew. The key factors affecting market sentiment become confectioneries and low-calorie diet soda. The price of Sorbitol in the local market was impacted proportionally by the increased trend in feedstock and sugarcane prices as well. Toward the end of the quarter, the prices were assessed around USD 930/MT for CFR New York in December.
Asia Pacific
Conflicting views on Sorbitol pricing emerged in the Asia-Pacific market during the fourth quarter of 2022. Demand for downstream industries was delayed because of sanctions in countries like China, Taiwan, and India. The local market's sentiments continued to be driven by the pharmaceutical industry's activity. The cost of producing Sorbitol in the Asia-Pacific region decreased as a result of stable domestic feedstock, corn, and sugarcane prices. It was challenging to move feed between the source and producer because of the backed-up cargo and crowded ports. Toward the end of the quarter, the prices were assessed around USD 680/MT for FOB Le Havre in December.
Europe
Sorbitol market sentiments in Europe varied greatly in the fourth quarter of 2022 because of the local market's high feedstock corn and sugarcane costs. Due to the stagnant demand from downstream feeds, bakeries, and drinks, the area market saw a high operating rate. Natural gas was also expensive, which raised the price of production and feedstock. Because of growing natural gas prices and supply problems, producing Sorbitol in the household is now more expensive. Strong consumer demand for low-calorie items has an impact on how Sorbitol is viewed in the local market. Toward the end of the quarter, the prices were assessed around USD 815/MT for FOB Le Havre in December.
For the Quarter Ending September 2022
North America
In the North American region, the third quarter of 2022 saw a little change in the market dynamics for Sorbitol. Due to a drop in demand from downstream industries, such as the pharmaceuticals sector, prices were reduced in the first month of the first quarter. The food and beverage sectors' continued growth in the local market continued to boost prices in the second half of the third quarter. The public's growing concern for their health increased demand for the product in the local market. Confectionaries and low-calorie diet soda become the main variables influencing market sentiment. Additionally, the prices of feedstock and sugarcane continued to trend upward, having a proportional impact on the pricing of Sorbitol in the local market. Toward the end of the quarter, the prices were assessed around USD 967/MT for CFR New York in September.
Asia Pacific
During the third quarter of 2022, Sorbitol pricing generated conflicting opinions in the Asia-Pacific market. Sanctions caused delayed downstream industry demand in nations including China, Taiwan, and India. The pharmaceutical industry continued to be active, which continued to drive market sentiments in the local market. Additionally, the domestic market's feedstock, corn, and sugarcane prices remained unchanged, reducing Sorbitol's production costs in Asia-Pacific. Due to port congestion and piled-up cargo, the feed transfer between the supplier and producer was difficult. Toward the end of the third quarter, the prices were assessed around USD 680/MT for FOB Le Havre in September.
Europe
In the third quarter of 2022, Sorbitol market sentiments in Europe varied significantly due to high feedstock corn and sugarcane prices in the local market. The regional market experienced a high operational rate because of the stagnating demand from downstream feeds, bakeries, and beverages. Additionally, the cost of natural gas was high, which increased the cost of production and the cost of feedstock. The cost of producing Sorbitol in the domestic market has also increased as a result of rising natural gas prices and supply disruptions. Demand for low-calorie foods is strong, which affects how Sorbitol is perceived in the local market. Toward the end of the third quarter, the prices were assessed around USD 854/MT for FOB Le Havre in September.
For the Quarter Ending June 2022
North America
Sorbitol's market dynamics remained positive throughout the second quarter in the North American region. The prices were kept driven by the continuously developing food and beverages industries in the regional market. The rising concern regarding health among the public elevated the demand for the product in the regional market. Low-calorie diet coke and confectionaries become the key factors governing the market sentiments. Furthermore, the feedstock and sugarcane prices also remained on the upper edge, proportionally impacting the prices of Sorbitol in the regional market. Due to a natural sweetener with fewer ill effects, the demand for Sorbitol was elevated throughout the second quarter in the North American region. Furthermore, the cosmetics and personal care sectors remained active in governing the price dynamics of Sorbitol in the regional market.
Asia Pacific
Mixed sentiments about Sorbitol prices were observed in the Asia-Pacific market during the second quarter of 2022. Due to sanctions, countries like China, Taiwan, and India showcased slow demand from downstream sectors. Covid curbs and strict lockdown halted Sorbitol's operational rate, leading to prices declining during mid-quarter. Pharmaceutical sectors remained active, which kept driving the market sentiments in the regional market. Furthermore, the feedstock, corn, and sugarcane prices were also static in the domestic market leading to less production cost of Sorbitol in the Asia-Pacific region. The feed transportation between the supplier and manufacturer was rough as the ports were constrained and cargos were piled up.
Europe
In the second quarter of 2022, the market sentiments of Sorbitol in the European market remained firm owing to high feedstock corn and sugarcane prices in the regional market. The demand from downstream feeds, bakeries, and beverages remained stagnant, leading to a high operational rate in the regional market. Also, the natural gas prices were high leading to high production costs and feedstock prices. Furthermore, the hiked prices of natural gas and supply disruption have forced the manufacturers to increase the production cost of Sorbitol in the domestic market. Low-calorie food items are high in demand governing the market sentiments of Sorbitol in the regional market.
For the Quarter Ending March 2022
North America
In the first quarter of 2022, market sentiments of Sorbitol followed uptrend in the North America region. Owing to the increase in the prices of feed corn and sugarcane in the domestic market the prices of Sorbitol soared along with strong demand from food services sectors. The escalated prices of feed along with increased energy cost have resulted in high production margin of Sorbitol in the domestic market. Furthermore, in the North American region, the strong demand of low-calorie food and beverages in addition to ready to eat-food items became the driving force of market sentiments of Sorbitol. Sorbitol prices in the USA surged by nearly 6% in the quarter ending March 2022.
Asia Pacific
Market sentiments of Sorbitol witnessed a miscellaneous sentiment throughout the first quarter of 2022. In China, the prices were quoted as USD 1550/ton, FOB Shanghai, in the month of January 2022. The demand for Sorbitol observed further surge towards the end of quarter because of high feedstock prices and rise in the Omicron infections in China. These facets increased the demand from downstream packed food and pharmaceutical sector, forcing the manufactures to increase the production rate of Sorbitol in the regional market. Furthermore, the demand from cosmetics and personal healthcare sectors also contributed toward the growth of the market sentiments of Sorbitol in the Asia-Pacific region.
Europe
In the first quarter of 2022, market sentiments of Sorbitol in the European domestic market remained strong owing to high prices of feed corn and sugarcane. The political stress between Russia and Ukraine escalated the prices of all food grain commodities influencing the prices of Sorbitol. Furthermore, the rise in prices of natural gas along with supply disruptions forced manufacturers to increase the production cost of Sorbitol in the domestic market. Firm demand from downstream sectors that is food and beverages sector governed the rising market sentiments of Sorbitol. The price quotations were observed as ranging from USD 1745/ton in the month of January and USD 1798/ton, Germany towards the quarter end.
For the Quarter Ending December 2021
North America
The Sorbitol market sentiments in North America remained buoyed throughout the fourth quarter of 2021. This development is majorly attributed to the high-cost support from the raw materials, and the prices of upstream corn soared to the historic highs in the US domestic market, whereas in December the global food ricing index soared to the historic highs. The supply outlook eased significantly after the operational rates at the manufacturing sites increases post the hurricane season. Therefore, due to the cost support from the upstream coupled with the food security concerns against the adequate demand of Sorbitol. The producer's quotations for Sorbitol remained staggering upwards in the US domestic market in Q4 2021.
Asia Pacific
In the fourth quarter of 2021, the Sorbitol sentiments in the Asia Pacific region remained subdued throughout the quarter. The Sorbitol offers were stagnant in the first half of the quarter despite the stable demand in the wake of the economic activities in the Southeast Asian region. Whereas, the maize offers eased since the starting of the quarter and the demand remained stable led to the lower production margins. Whereas, in China, the operational rates at the manufacturing facilities increased after the power rationing was curbed in China. As a ripple effect of stable demand and lower production cost, the Ex-Ahemdabad discussion for Sorbitol 70% was settled at USD 597 per tonne, during the quarter ending in December.
Europe
During the fourth quarter of 2021, the Sorbitol sentiments in the European domestic market were remained strengthened throughout the fourth quarter of 2021. This change in the trend was induced by the limited availability of raw materials and the manufacturing cost amidst the high electricity charges in the European market. The energy crisis amidst the limited stocks of natural gas was prevailing its impact since the third quarter of 2021 led to curtailment in the production rates at several upstream facilities across Europe. As a ripple effect, the offers for Sorbitol remained buoyed throughout the fourth quarter of 2021.
