Frail Demand Drives Down Potassium Sorbate Prices Globally

The continuous decline in the price of Potassium Sorbate in the international market was ascribed to increasing stocks and decremented end-user demand. Lessening import momentum in importing countries further fuelled the weakened pricing sentiments for Potassium Sorbate in the global market, which in turn, additionally caused a uniform decline in production activity in exporting countries.

With a persistent lack of demand and decreased importing operations, industry players in the APAC region saw that the Potassium Sorbate market mirrored the market outlooks of previous months. To reduce stocks and draw in overseas customers, a number of producers, suppliers, and industry experts concentrated on lowering the price of Potassium Sorbate. The poor trade momentum has been further bolstered by May's price trend.

Prices for Potassium Sorbate decreased similarly in both the European and American markets. Potassium Sorbate demand did not change, and there was a sufficient supply of the commodity in the market to meet the needs of the downstream industries. The industry players also claim that April 2023 saw an improvement in delivery times, which they predict will last the remainder of the year. Additionally, the price of the feedstock Sorbic Acid continuously declined in the Eurozone, which was ascribed to the downstream derivative industry's negative price movement, which included Potassium Sorbate. Additionally, the petrochemical industry has been negatively impacted by rising interest rates, which has decreased consumer spending in the Eurozone.

As per the ChemAnalyst analysis, "Potassium Sorbate prices are estimated to rise at a modest rate both domestically and internationally. Market players probably have enough inventory on hand to fulfill urgent orders placed across the global market. A new production will probably be started in the exporting market in response to an increase in orders and high energy costs. Additionally, it is anticipated that rising upstream costs will continue to support the growth of the Potassium Sorbate market.