Iodised Salt Price Trend and Forecast

Iodised Salt Regional Price Overview

Get the latest insights on price movement and trend analysis of iodised Salt in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Iodised Salt Price Trend for the Second Half of 2023

After following a mild stance in the initial months of H2 of 2023, Korean iodised salt witnessed a significant surge in the iodised salt price indices, marking the strongest rise since August 2022.
 

Iodised Salt Price Chart

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Several factors contributed to this spike, including reduced salt output due to heavy rainfall and storms, heightened demand for salt before Japan's wastewater discharge from the Fukushima nuclear power plant, and climate change affecting major producing markets.

The iodised salt price, thus not only in Korea but in the rest of the Asian countries too followed an upward moving journey throughout the H2 of 2023, attributed to decreased output and increased demand.

With Korea's low iodised salt self-sufficiency, reliance on global production also raised the concerns of traders about unnatural price hikes in consumer goods. In the rest of the Asian countries, crunch in domestic supply chains due to prioritization of overseas demand over the domestic had also caused the ripples in the iodised salt price trend.

Analyst Insight

According to Procurement Resource, the price trend of Iodised Salt is estimated to incline amid the growing trade challenges and disruption of major sea routes along with rising concerns regarding the ongoing geopolitical tensions.
 

Iodized Salt Price Trend for the First Half of 2023

Iodized Salt is the salt with added Iodine, usually used for household consumption in the kitchen. During the first half of the year 2023, salt prices surged throughout. The primary reason behind these inclined trend was a rise in production costs. Even though the salt production was higher than usual, the manufacturing companies recorded losses despite normal sales as operating these units was costing more because of heavy inflation and high energy prices.

German potash and salt miner K+S cut down its annual profit outlook in May, bringing its share value down by approximately 4%. And the African salt manufacturing company Kensalt announced a price hike to meet the higher production costs. Overall, the prices had a growing outlook throughout the said period.

Analyst Insight

According to Procurement Resource, the price trend for Iodised Salt are expected to continue growing since the production costs don’t seem to be coming down; further, the market will strive for stabilization.

Procurement Resource provides latest prices of iodised Salt. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.