Citric Acid Prices: Latest Trend, News, Chart and Demand

Key Details About the Citric Acid Price Trend

The Citric Acid Prices in Q2 2024 were driven by a combination of supply chain resilience, geopolitical factors, and regional demand dynamics. In North America, despite challenges such as the Baltimore Bridge collapse and the Panama Canal drought, the market remained stable due to consistent supply from major exporters and effective inventory management by suppliers. The early peak shipping season and associated logistical complexities, including container shortages and increased freight rates, also played a role in shaping market trends. In the Asia Pacific region, rising raw material costs, particularly for corn, coupled with geopolitical tensions and logistical disruptions, notably influenced the market. The strengthening Chinese yuan further tightened supply, pushing prices higher as exporters focused on international markets. In Europe, the market's stability was underpinned by consistent production rates, minimal disruptions, and efficient inventory management, with seasonal demand fluctuations in the food and beverage industry playing a significant role.

Citric Acid Prices Second Quarter 2024:

United States: 906 USD/MT
South Korea: 787 USD/MT
Germany: 921 USD/MT

Factors Influencing Citric Acid Prices in Second Quarter 2024:

In North America: In North America, Citric Acid prices during Q2 2024 were influenced by a combination of logistical challenges and steady supply chain management. The early peak shipping season caused a rise in freight rates and container shortages, which added to the overall cost structure. Geopolitical tensions and environmental challenges, such as low water levels in key shipping routes, further complicated logistics, necessitating alternative routes and increasing transportation costs.

In Asia-Pacific: In the Asia-Pacific region, Citric Acid prices were primarily driven by strong demand and limited supply during Q2 2024. The rising costs of raw materials, particularly corn, significantly impacted production expenses, pushing prices higher. Geopolitical tensions, including the Panama Canal drought and conflicts in the Middle East, further strained the supply chain, exacerbating the situation. The strengthening of the Chinese yuan against the US dollar also played a crucial role, as it encouraged Chinese exporters to focus on international markets, tightening domestic supply and leading to a price surge, especially in South Korea.

In Europe: The European Citric Acid market saw stable pricing during Q2 2024, influenced by consistent supply dynamics and seasonal demand fluctuations. With minimal disruptions in production and reduced freight charges, the market maintained stability. In Germany, where the market exhibited slight dynamism, price changes were primarily driven by increased consumption from the food and beverage industry during the summer months. Despite these seasonal factors, prices remained stable, with negligible changes between the first and second halves of the quarter, indicating a well-balanced market.

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Overall, Price Trend and Regional Prices Analysis:

Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
North America: United States and Canada
Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, Peru
Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, Morocco

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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