For the Quarter Ending September 2025
APAC
• In China, the Soya Lecithin Price Index fell by 2.82% quarter-over-quarter, reflecting oversupply, high inventories and weak global demand.
• The average Soya Lecithin price for the quarter was approximately USD 1125.00/MT, FOB Tianjin export basis.
• Soya Lecithin Spot Price eased on abundant shipments and elevated inventories as crushers sustained high soybean processing rates.
• Soya Lecithin Price Forecast anticipates mild volatility with short term downward bias absent stronger export inquiries or production cuts.
• Soya Lecithin Production Cost Trend showed moderate pressure from higher energy and packaging costs, partially offset by cheaper soymeal.
• Soya Lecithin Demand Outlook remains subdued as downstream buyers destock and prefer regional suppliers amid procurement caution.
• Elevated port throughput and currency moves compressed margins, keeping the Soya Lecithin Price Index under pressure.
• High warehouse stocks and competitive offers from India and Vietnam pressured export volumes, reducing Chinese suppliers' near term leverage.
Why did the price of Soya Lecithin change in September 2025 in APAC?
• Oversupply from sustained crushing increased inventories, weakening export price bargaining power and FOB competitiveness notably.
• Soft global demand and buyer destocking reduced inquiries, prompting exporters to lower quotations, secure orders.
• Eased port congestion and freight normalization accelerated shipments, enabling inventory clearance but sustaining price weakness.
Europe
• In the Netherlands, the Soya Lecithin Price Index rose by 0.89% quarter-over-quarter, reflecting restocking activity.
• The average Soya Lecithin price for the quarter was approximately USD 1093/MT, CFR Rotterdam traded.
• Soya Lecithin Spot Price tightened in August as logistical friction and selective buying reduced availability.
• Soya Lecithin Price Forecast points to Q4 volatility driven by seasonal buying and American supply.
• Soya Lecithin Production Cost Trend rose as soybean and soy-oil benchmarks increased, pressuring refiners' margins.
• Soya Lecithin Demand Outlook remains soft amid plant-based slowdown and substitution toward alternative emulsifiers trends.
• Soya Lecithin Price Index pressure persisted because inventory overhang and cautious restocking limited upward momentum.
• Shipping congestion and selective export demand intermittently supported premiums, briefly lifting CFR offers into Rotterdam.
Why did the price of Soya Lecithin change in September 2025 in Europe?
• Global oversupply from strong crushing increased stocks, exerting downward pressure on prices in September 2025.
• Falling soybean and soy-oil benchmarks reduced production costs, enabling refiners to cut offers to buyers.
• Logistical congestion and cautious procurement among European buyers delayed shipments, significantly amplifying short-term price volatility.
North America
• In North America for the quarter ending September 2025, the soy lecithin market likely experienced modest softness: moderate cost pressure, subdued downstream demand, elevated inventories, and competitive pressures kept prices under pressure but with low volatility given stable supply.
• The region is supported by large soybean production and established crush/lecithin infrastructure.
• While raw-material soybean cost volatility remains a challenge. On the other hand, stable logistics and domestic crush capacity help moderate steep swings.
• Demand growth is steady rather than surging, driven by food & beverages, pharmaceutical, and clean label trends.
• With abundant domestic supply, moderate demand growth, and global export competition, a mild downward bias is plausible in North America in this period (in the absence of strong export pull or consumption surge).
• Elevated inventories (domestic + exportable) and competitive offers from other origins likely compress margin and bargaining power for North American exporters.
• With U.S. and Canada being domestic-oriented, freight and currency swings are less dominant than in export heavy origins—but global freight easing still dampens landed-cost advantages.
For the Quarter Ending June 2025
North America
• The overall Q2 trend for Soy lecithin Spot Price in North America, modeled on the Chinese export market, was decisively downward. By June 2025, the spot price had declined considerably reflecting persistent oversupply and weak fundamentals demand.
• The Soy lecithin Price Forecast for next quarter remains bearish, as suppliers contend with considerable inventory overhang stemming from robust crushing activity in Q2 and sustained global competitive pressures from alternative exporting origins.
• The persistent downward movement in the Soy lecithin Spot Price during the quarter was closely tied to the Production Cost Trend, which initially surged in April due to high soybean and oil costs but eased in May and June as soybean imports became cheaper and input values stabilized.
• Soy lecithin Demand Outlook within the quarter began robustly, particularly from food and animal feed sectors, but softened markedly from May onward as inventory saturation and alternative emulsifier adoption suppressed fresh buying activity.
• Soy lecithin Production Cost Trend within the quarter second half saw moderate relief, with softer energy prices and currency appreciation slightly offsetting raw material expenses yet supply chain optimization remained crucial amid logistical uncertainty.
• In June 2025, price pressures increased again intensified. Chinese producers drove aggressive price cuts to clear inflated stocks while competing aggressively with India and Southeast Asian suppliers benefitting from favorable currency conditions and governmental export incentives.
• Logistical efficiencies improved globally in June, shortening lead times for North American buyers but also increasing the availability and variety of offers, which further depressed spot values.
• Export competition intensified, with global buyers diversifying sources away from China, promoting a buyer's market scenario and forcing North American importers to adjust procurement strategies and leverage flexible contract structures.
• Risk aversion grew among North American buyers, with procurement departments delaying restocking in anticipation of further spot price softening and macroeconomic uncertainties, which caused order cycles to elongate considerably.
• Looking ahead, the Soy lecithin Price Forecast for next quarter suggests a continued bearish or flat trajectory unless global demand sees an unexpected uptick; inventory liquidation and supply-side correction are expected to be the primary themes influencing North American Soy lecithin Spot Prices.
APAC
• For APAC, the Q2 trajectory for Soy lecithin Spot Price shifted from bullish in April to notably bearish by June, with overall spot prices declining from 1,215 to 1,058 in juneUSD/MT, and the quarter posting an average price drop of –11.83% Quarter-over-Quarter.
• The Price Forecast for next quarter indicates further downward adjustment, as the region continues to wrestle with overcapacity and competitive export offerings, stalling any meaningful spot price rebound until demand fundamentals strengthen.
• In April, Soy lecithin spot prices surged amid supply constraints, a steep Production Cost Trend spike, and robust demand from food, pharma, and feed industries, intensified by seasonal procurement and currency fluctuations that aided export competitiveness.
• Soy lecithin Demand Outlook within the quarter, while initially buoyant, faded mid-quarter. By May, excess crushing volume led to inventory build-ups, and manufacturers quickly pivoted to price discounts to manage the glut.
• May saw a change in Production Cost Trend, shifting towards cost competitiveness as input costs—especially soybean oil—retreated; yet, this benefit was offset by sluggish downstream absorption and heightened co-product supply.
• During June 2025, the APAC market experienced persistent price erosion. Crushers maintained high processing rates in China, overestimating a global demand rebound, resulting in symptomatic oversupply and a Soy lecithin Spot Price fall to 1,020 USD/MT.
• The June Soy lecithin Demand Outlook was particularly weak, as food and pharmaceutical sectors delayed fresh imports, working through earlier-built stocks, with buyers expecting further price decreases amidst macroeconomic caution and sectoral uncertainty.
• Competitive dynamics were amplified by Indian and Southeast Asian suppliers, who capitalized on currency depreciation and export-driven policies to undercut Chinese offers, attracting price-sensitive APAC buyers.
• The Soy lecithin spot market environment evolved into a clear buyer's market, with extended lead times, aggressive discounting, and contractual flexibility as exporters vied for market share amid tepid procurement sentiment.
• Next quarter’s Price Forecast warns of further volatility, and while supply-side corrections may stabilize prices temporarily, demand-side revival will be pivotal for any substantial market recovery in APAC.
Europe
• Europe’s Q2 Soy lecithin Spot Price trend was likewise downward, marked by an average Quarter-over-Quarter change of –12.75% and a sustained slide to 985 USD/MT by June 2025, under strong global oversupply and slack demand.
• The Soy lecithin Price Forecast for next quarter predicts continued competitive price pressures, especially as suppliers across the EU and major origins work through excessive inventories and face ongoing demand stagnation across food, feed, and pharma sectors.
• The beginning of the quarter saw a brief price uptick in April, attributed to earlier global logistics disruption, elevated demand from the U.S. (post-tariff suspension), and a tight supply scenario, though this rally was short-lived.
• The subsequent Production Cost Trend in Europe shifted more favorably: falling energy and raw material prices, especially soybean-derived feedstocks, allowed for lower production costs which quickly translated into softer supplier quotations mid-quarter.
• Soy lecithin Demand Outlook within the quarter became increasingly bearish, with the food and personal care sectors experiencing decelerating consumption, noticeable especially in May, as retail sentiment and procurement cycles weakened.
• By June 2025, the Soy lecithin Spot Price continued its downward trend, with the market characterized by persistent gluts from record crushing efficiency in Europe and major exporting nations, driving heightened supplier competition.
• Within June, weakening plant-based and processed food sector consumption further suppressed the Soy lecithin Demand Outlook, while users postponed purchasing as spot prices continued to fall, intensifying the wait-and-watch sentiment.
• Supplier tactics across Europe emphasized discounted contract terms and more flexible delivery structures, as logistical obstacles subsided and global price parity became increasingly fluid with falling feedstock input costs.
• The Soy lecithin Production Cost Trend for the quarter second half reflected widespread cost relief, which—paired with oversupplied market conditions—encouraged strategic stock liquidations and re-negotiated supply contracts across the European value chain.
• For the near term, the Soy lecithin Price Forecast for next quarter foresees spot prices remaining under pressure barring unforeseen supply-side shocks or rapid downstream recovery, with buyers exercising heightened discretion and substitutability favoring alternative emulsifiers.
For the Quarter Ending March 2025
North America
In Q1 2025, the North American soya lecithin market, including the United States, experienced stable conditions shaped by balanced supply and demand fundamentals. Consistent soybean processing supported steady lecithin production, while downstream sectors such as food, pharmaceuticals, and animal nutrition maintained regular procurement activity. Favorable weather conditions across key agricultural regions ensured uninterrupted feedstock availability, reducing the risk of supply shocks.
Although competition from alternative lecithin sources like sunflower and rapeseed moderated demand growth, core consumption remained resilient. Logistics and transportation networks also improved, supporting timely deliveries and inventory replenishment. In the U.S., domestic buyers adopted cautious procurement strategies in response to broader economic uncertainties, contributing to conservative inventory management.
Market participants noted minor price fluctuations throughout the quarter, driven more by seasonal buying patterns and operational costs than significant changes in supply or demand. Sellers remained strategic in pricing, adjusting to margin pressures without aggressive revisions. Overall, the North American soya lecithin market remained stable in Q1 2025, with a mildly cautious sentiment prevailing amid stable manufacturing output, adequate inventories, and measured downstream activity across key end-use industries.
Asia Pacific
The APAC soya lecithin market in Q1 2025 exhibited a nuanced balance between supply and demand amid evolving economic conditions. Improved weather in key production areas supported higher yields, contributing to supply surpluses that exerted downward pressure on feedstock prices. Concurrently, increased availability and competitive pricing of substitutes such as sunflower and rapeseed lecithin tempered demand growth. Despite these headwinds, demand from downstream sectors showed signs of steady recovery, supported by enhanced freight activities and stable manufacturing output, resulting in an overall balanced market sentiment with sufficient inventories.
In China, soya lecithin prices rose by 3.38% from Q4 2024 to Q1 2025, averaging 1121 USD/MT during the quarter. The intra-quarter price trend remained largely flat, reflecting a stable market environment. Key drivers included steady production rates, improved supply conditions, and a gradual rebound in demand from the lecithin sector. However, margin pressures on refiners and economic uncertainties in importing countries introduced cautious selling behavior. The near-term outlook suggests a stable to mildly bullish trajectory supported by sustained demand and inventory management.
Europe
The European soya lecithin market in Q1 2025 experienced a complex interplay of supply and demand factors. Elevated inventories, advancements in processing efficiency, and increased extraction yields contributed to oversupply, while demand softened as end-users favored alternative emulsifiers. Despite subdued trade activity amid currency volatility and cautious procurement strategies, the market outlook remained cautiously optimistic, supported by inventory replenishment and expectations of improved supply conditions in Asia. Throughout the quarter, price movements reflected fluctuating demand dynamics and logistical considerations.
In the Netherlands, soya lecithin prices rose by 4.39% from Q4 2024 to Q1 2025, averaging 1093 USD/MT in the current quarter. Monthly prices exhibited volatility, with a notable dip in February followed by modest recovery. This fluctuation was driven by oversupply pressures, weakened downstream demand, and increased competition from alternative emulsifiers, compounded by stable freight costs and cautious buyer sentiment. The overall trend is bearish, though the near-term outlook anticipates gradual stabilization supported by inventory restocking and improving consumer confidence.
For the Quarter Ending December 2024
North America
In Q4 2024, the U.S. soy lecithin market exhibited notable fluctuations, driven by global supply-demand imbalances and economic factors. In October, export prices fell, impacted by high production rates and stable feed stock costs, along with weak demand from key sectors like food and feed. With abundant inventories, suppliers employed competitive pricing strategies to reduce stock levels.
Despite some signs of manufacturing recovery, with the U.S. PMI increasing slightly, export orders remained sluggish, input costs rose, and downstream procurement stayed cautious, preventing a significant rebound. In November, the market continued to face downward pressure, as elevated production levels and a lack of strong overseas demand led to supply gluts. Buyers relied on existing stocks, and policy-driven economic incentives had little impact on demand. The market, however, saw some cost-saving opportunities for industries like food, pharmaceuticals, and cosmetics, amid favorable pricing and fluctuating exchange rates.
By December, a shift occurred, with prices starting to rise, supported by post-holiday demand and logistical improvements. Supply constraints, particularly in non-GMO lecithin, coupled with rising production costs and labor shortages, pushed prices upward. This recovery marked a positive turn, with suppliers adapting to market conditions and resetting pricing norms.
Asia
In Q4 2024, China's soy lecithin market exhibited notable volatility, driven by fluctuating supply-demand dynamics and macroeconomic conditions. In October, export prices declined significantly, influenced by elevated production rates, stable feedstock costs, and muted global demand, particularly in food and feed sectors. With surplus inventories, suppliers adopted competitive pricing strategies to manage stockpiles. Despite a slight recovery in manufacturing activity, evidenced by the PMI surpassing 50, export orders weakened, input costs rose, and downstream procurement remained cautious, limiting market recovery. November continued this bearish trend, with high processing rates exacerbating supply gluts and overseas demand remaining lackluster. Buyers relied on pre-stocked inventories, and policy-driven stimuli failed to materially impact procurement. Nevertheless, reduced prices offered cost-saving opportunities in key industries, sustaining moderate trade activity amid currency fluctuations. Lastly, December marked a turning point as export prices rebounded, supported by post-holiday demand, enhanced logistics, and global trade disruptions. Rising energy costs, labor shortages, and strategic pricing adjustments allowed Chinese suppliers to recalibrate market positioning. This recovery underscores a shift in market power, setting a stronger pricing baseline and fostering an optimistic trajectory after prior declines.
Europe
In the fourth quarter of 2024, the Turkish soya lecithin import market experienced significant fluctuations, marked by both declining and rising price trends driven by global and domestic dynamics. In October, prices continued their downward trajectory due to global oversupply and surplus inventories, with producers offering competitive rates to offload stocks. However, a weakening Turkish lira against the US dollar further discouraged imports as costs increased, while subdued demand from key sectors such as food and feed exacerbated the bearish sentiment. Türkiye’s Manufacturing PMI rose slightly to 45.8 in October, yet remained in contraction, reflecting reduced production, employment, and purchasing activity. By November, the market rebounded as global demand for soya lecithin surged, particularly from food and pharmaceutical sectors, alongside supply constraints caused by logistical challenges and higher transportation costs. The depreciation of the Turkish lira boosted exports, tightening domestic supply and driving prices upward. In December, prices remained elevated due to constrained availability of alternative lecithin’s, such as sunflower and rapeseed lecithin, and reduced non-GMO soy lecithin exports from India, further strained by competition from Brazil and Argentina. This combination of heightened demand and restricted supply maintained upward pressure on prices, underscoring a volatile yet bullish market trajectory in Türkiye for Q4 2024.
