For the Quarter Ending September 2023
North America

During the third quarter of 2023, the pricing trend for Potassium Sorbate in North America exhibited a steady decline, punctuated by a slight uptick in August 2023. Beginning in July and aligning with the weakening trend from the preceding month, prices steadily decreased, mirroring the market sentiments of its upstream feed, Sorbic Acid, throughout July. The local suppliers, exercising caution due to weakened end-user demand in the Food and Beverage, bakery, and preservative sectors, refrained from replenishing their shelves due to excessive stockpiling among domestic merchants. Moreover, a notable reduction in importing activity by the United States in July was attributed to businesses grappling with higher shipping and other expenses amid rising inflation, potentially leading to a decrease in imported goods. As August progressed, prices experienced a modest improvement, driven by increased local inquiries from downstream food and preservative sectors. However, with rising upstream costs and sufficient supply, Potassium Sorbate demand declined again as the third quarter concluded in September, with prices settling at USD 2530/MT across the US market.

Asia Pacific

Across the Asia Pacific (APAC) region, particularly in China, Potassium Sorbate costs continued their downward trajectory at the onset of the third quarter of 2023. This consistent decline was influenced by weakened consumer demand and surplus inventories. Market transactions primarily revolved around immediate requirements, and extreme weather conditions, such as heat waves and heavy rainstorms, further exacerbated the degradation of final products, including potassium sorbate. The Statistics Bureau and the China Federation of Logistics & Purchasing highlighted a decline in Chinese exports, prompting several developing countries to raise interest rates to combat inflation. However, as mid-Q3 approached, prices experienced a moderate upturn due to improved domestic market inquiries, balanced by overall product availability. By the end of Q3 in September, demand remained subdued, causing prices to decrease by over 2 percent, settling at USD 2420/MT.

Get Real Time Prices of Potassium Sorbate: https://www.chemanalyst.com/Pricing-data/potassium-sorbate-1342

Europe

In the European region, particularly in the German market, Potassium Sorbate prices mirrored the declining trend witnessed in the USA throughout the third quarter of 2023. Beginning in July, prices steadily decreased, with merchants maintaining ample inventory levels to meet the rising demand within the domestic market and from neighboring regions. Germany's high energy costs added complexity to an already challenging situation, with prices rapidly declining since the beginning of the year due to high inventories and uncertain economic conditions. Buyers adopted a cautious approach, placing limited orders in anticipation of a prolonged growth rate. However, as mid-Q3 approached, there was a slight uptick in prices as merchants destocked their inventories in response to a modest increase in demand. Moving towards the end of the quarter in September, prices decreased again, albeit at a stable rate compared to the previous month, settling at USD 2515/MT.

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