Sodium Citrate Price Trend and Forecast

Regional Price Overview

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

Sodium Citrate Price Trend for the Q1 of 2024

Asia

Sodium citrate is produced by reacting sodium carbonate or sodium hydroxide with citric acid. So, the price trends are usually dependent on the market behaviors of these feedstock materials. During the first three months of the year, sodium citrate prices were observed to be tumbling down marginally in the Asian markets. Inventories were already running high since the beginning of the quarter in January’24.

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These stockpiles exerted downward pressure on the market trend and pivoted the price trajectory in the downward direction. However, a fall in citric acid prices further added to this downfall. Demands were also meek and occasional; It was the incline in crude oil and energy prices that momentarily pushed the sodium citrate market up during some instances in the Asian region. Overall, mixed market sentiments were witnessed in Q1’24.

Europe

Sodium citrate prices were observed to be varying in the European market throughout the said period of Q1’24. The European markets were still facing the issue of supply chain disruptions as the Russia and Ukraine war entered its third year. The food and pharma sectors were still struggling to stand their ground as customer interest was wavering around the same position.

The upstream factors, however, were adding to the cost support since the rise in crude oil prices in the region after Russia’s oil output plunged by 7% inflated the production expenditure. So, the upstream and downstream factors were both conflicting with each other. With these bidirectional pushes and pulls, sodium citrate prices remained afloat in the European markets.

North America

In the North American sodium citrate market, the prices were found to be mirroring their Asian and European counterparts for the majority of the said period. Feedstock prices were riding low in the region since the long holidays in the previous months reduced industrial consumption. However, the crude oil and energy costs were on a consistent incline during the given span, which exerted a reverse force on the sodium citrate market momentum. With both upward and downward movements of the price trend, an overall buoyant market performance was witnessed.

Analyst Insight

According to Procurement Resource, given the current uncertainties and ambiguity in the international markets, the Sodium Citrate price trend is likely to remain consolidated in the going forward.

Sodium Citrate Price Trend for the October - December of 2023

Asia

During the fourth quarter of the year 2023, the price trend of sodium citrate were very much in accordance with that of its feedstock citric acid and sodium hydroxide market trend. The prices for sodium citrate wavered at the lower end of the price scale during Q4’23.

Market offtakes were largely bearish, and the existing inventories were already overflowing with excess product. So, in order to promote market movement, the suppliers were compelled to discount the export rates. Overall, low swinging market trend were observed for sodium citrate in the Asian market during the said period.

Europe

The European market trend for sodium citrate were no different from the Asian trend, as the prices wavered lowly here as well. Amidst the ongoing Russia-Ukraine and Israel-Hamas conflicts in the European backyard, the market demands remained tepid, and these dull demands guided the price trend throughout the said period.

North America

The American market trend for sodium citrate were relatively better compared to other global markets. Because of the upcoming holiday season, the food and beverage sectors saw an increase in sodium citrate demand and pushed the market trend upwards. However, the heavy inventories also pushed the market trend downwards; the general market trend were largely mixed.

Analyst Insight

According to Procurement Resource, Sodium Citrate prices are expected to continue to fluctuate in the coming months; the supply and demand outlook seems supportive of borderline stability in the concerned markets.

Sodium Citrate Price Trend for the July-September of 2023

Asia

The Asian sodium citrate market exhibited a mixed price graph during the said period. Given the dull economic growth, the Chinese sodium citrate market started at a lower note in July. The sodium citrate inventories were also well supplied with ample stockpiles, which further dragged the market trend down.

Both domestic and international demands were found to be suffering from the food and pharma industries, which translated to the plunging price graph. However, some betterment in the market dynamics was observed as the time progressed in the latter half of the quarter. Since the inventory stocks moved consistently, the price trend started tilting toward the higher side in September. The general market outlook varied throughout the said period.

Europe

The variation in the Asian sodium citrate markets was also reflected in the European markets, directly indicating Europe’s dependence on cheap Asian exports. The sluggish downstream demands at the beginning kept the price trend down. However, the market upliftment in the latter months of the quarter was attributed to the improvements in the market offtakes over the period. Overall, a blended market outlook was observed.

North America

The American sodium citrate market could not behave any differently than the other global markets, as the prices here fluctuated in a similar manner throughout the given period. After a slow start, the market dynamics improved in the second half of the quarter. These trend almost followed the regional demand curves. However, because of the difficult economic situations in the region with heightened interest rates, the general market outlook was witnessed to be negative.

Analyst Insight

According to Procurement Resource, Sodium Citrate price trend are not projected to run high in the coming months since dull demands are anticipated for some time.

Sodium Citrate Price Trend for First Half of 2023

Asia

In the first quarter of 2023, the price trend of sodium citrate enjoyed an inclining journey. During this time, the abrupt rise in the number of domestic and international inquiries boosted the sales number and, in turn, the prices of sodium citrate. In view of that, some producers had to increase their production rates to prevent the condition of shortage.

The second quarter, on the other hand, followed a bearish trend. The food and pharmaceutical sectors witnessed a gradual fall in their trading activities, which was reflected in their demand for sodium citrate. In addition to this, the export orders from China also declined on account of weak economic activities, which caused the price trend of sodium citrate to move southwards.

Europe

In the initial phase of the first quarter, the rise in the prices of sodium citrate was steep, but it slowed down as the quarter progressed. This positive trajectory of the price trend was due to the rise in interest of consumers and insufficient availability of stocks. The second quarter, however, failed to follow in the same trend, and the prices of sodium citrate declined gradually.

The citric acid sector specifically performed poorly, which had a negative impact on the demand from the downstream industries that led to the downfall of the sodium citrate price trend.

North America

In North America, the price trend of sodium citrate showcased a similar trend that was observed in the European and Asia Pacific countries. The price surged in the first quarter with support from the downstream food and pharmaceutical industries and also due to the influx of expensive imports from China.

However, due to the downward movement of citric acid prices, the trend of sodium citrate prices also nosedived in the second quarter. Additionally, the instability of the US economy downgraded the overall market sentiments and made it difficult for the price trend of sodium citrate to recover.

Analyst Insight

According to Procurement Resource, the price trend of Sodium citrate is expected to follow a declining trajectory as the demand from the citric acid sector and the performance of the global economy is estimated to remain in the red zone.

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