Potassium Sorbate Price Trend Continues to Rise in North American Market in September 2023

As September draws near, the price of Potassium Sorbate, a pharmaceutical excipient, keeps rising, and several market participants further predicted that the price trend might end the entire third quarter on an upbeat note. Weather-related disruptions, rising feedstock costs, and soaring global demand bolstered the Potassium Sorbate trend.

In the North American region, the price values for Potassium Sorbate have already demonstrated an upward trend since the middle of the third quarter, and this trend is still being seen as September gets underway. It is anticipated that until the final weeks of September 2023, the rising use of Potassium Sorbate, a preservative typically used in liquid pharmaceutical formulations, will drive up its prices on both the local and overseas markets.

There is a good chance that the United States will also experience hot weather in September 2023, according to a forecast from the Climate Prediction Centre at the National Oceanic and Atmospheric Administration (NOAA). Additionally, it shows that temperatures are above average across most of the nation, from the East Coast to the Rocky Mountains. The south-central Plains have the best chances for a warmer-than-average September, with odds that outweigh those for much of Oklahoma and other regions of Texas. The Midwest, Northeast, and the Mid-Atlantic also have a good chance of experiencing a warmer-than-average September. This further continues the rising consumption of Potassium Sorbate within the food industries, preventing the decaying of canned foodstuffs and other pharmaceutical sectors, owing to its major applications of preservatives. Apart from that, another factor supporting the current price rise of Potassium Sorbate includes the rising demand for Sorbic Acid in its feedstock. Moreover, compared with the previous month, the input cost was high. This has further added to a significant rise in operating activity, which is considered another factor for this noteworthy rise in feedstock intake in the preservative sectors.

Rising freight costs up until the final week of August also kept exporting country product prices higher. Additionally, currency fluctuations and exchange rate variations have added to this month's positive price trend. The cost of Potassium Sorbate is anticipated to increase throughout September and in the following months, as per the market experts' estimates. Potassium Sorbate demand is expected to increase regionally, which is advantageous for suppliers and traders who can destock their inventory levels at a higher price to recoup their prior-month profits. Additionally, the pricing outlook for September for Potassium Sorbate and other end products is likely to be reinforced by the steady increase in its feedstock sorbic acid consumption.