Pectin Prices Show Positive Note Across the Globe at the End of Q1 2023

Pectin prices towards the end of the first quarter of 2023 visualized a steady increment across the globe compared to February 2023 on account of a slight surge in the domestic and overall international markets of respective nations. The upstream citrus industry is paying "particular attention" to the United States, India, Vietnam, and regions as key markets for the coming season, further supporting the positive market trend of Pectin.

Across the APAC region, primarily in the Chinese market, the prices of Pectin demonstrate a sturdy increment of 1.33 percent over the course of the month of March on account of both rises in domestic as well as international inquiries coupled with a surge in input operational cost. Besides that, amid the summer season, the demand for downstream Citrus products and their end products is further expected to surge, which is likely to support the market trend of all citrus-based products, including Pectin.

Similarly, the prices of Pectin in the United States and European region also displayed an incremented trend during the end of the first quarter of 2023. One of the primary reasons for the sturdy rise of the US domestic market was the food industry's high end-user demand. Moreover, stocks left for Pectin were insufficient to meet the surge in requirements in the approaching months. Because of this, the suppliers and the traders focused on placing newer orders, propelling the manufacturing units in China and Germany to boost their production activities. With this, the prices of Pectin witnessed an upsurge of 0.96 percent in the United States and 1.45 percent in Germany.

According to ChemAnalyst, " The price of Pectin is forecasted to witness a continuous surge in the upcoming months as well. Participants anticipate that both the domestic and international demand will remain on the upper side. Moreover, trade activity is further expected to support the positive market trend of Pectin in the forthcoming months.