Global Price Trend of Pectin Remains on the South Side Until Mid-Q1 Of 2023

The prices of Pectin demonstrate a constant downward trend during the month of February in the international market, followed by January 2023. Lessening international inquiries, unaffected stockpiles, and weak buying sentiments kept the prices in a descending direction throughout February 2023 across the globe. Reduced supply from exporting nations owing to disrupted weather conditions in the USA has added another factor of decreased prices of Pectin within the domestic and international market.

In the USA, the price of Pectin declined at the same rate as observed in January on the back of a decrease in purchasing power within the domestic market. Additionally, softer trading activity from export nations, and sufficient stocks for Pectin, as per the market experts, supported the overall trend in February 2023. Throughout February, domestic merchants have provided discounts on their offers to destock their stockpiles since December 2022. With this, the cost of Pectin showcased a decrement of around 1.18 percent during the mid of the first quarter of 2023.

Similarly, in the Chinese market, prices of Pectin highlighted a declination of 1.81 percent throughout February 2023. As customer interest saw a bleak in the domestic market, the downstream demand from the end-user sector reduced, putting strain on the supplies. Furthermore, a decrease in freight charges still did not affect the overall demand dynamics of Pectin because, compared with the previous month, no significant changes were witnessed by market experts in the stockpiles for Pectin during February.

According to ChemAnalyst, "the values of Pectin are projected to improve on a positive note in the forthcoming months across the global market. Improvement in the supply chain is likely to support the upsurged trend." Further, market participants might focus on destocking their stockpiles as soon as possible and start to put in newer orders. Purchasing activity is additionally expected to surge in the northward direction."