New York: Sodium Citrate prices decreased significantly in November due to weak downstream demand from the end-user pharmaceutical, food & beverage sectors. According to the recent trend, market participants were left with adequate stocks to cater to the overall requirements. Additionally, weak trading activities from exporting country such as China affects the market sentiments of Sodium Citrate in the United States.

Moreover, the prices of Sodium Citrate fell considerably since the third quarter of 2022 and witnessed a continuous decrease in November 2022, showcasing a decreasing trend of 1.46 percent. Sales from the food & beverage sectors dropped sequentially, keeping the Sodium Citrate price at the lower end. This unceasing low price fears the suppliers in the United States and propelled them to reduce their quotations to prevent their losses and destock the surging inventories.

Additionally, the trading activities from China have also dwindled, which supported the weak price trends of Sodium Citrate in the importing countries. Covid outbreaks and stringent control measures, the nation's unswerving commitment to the Covid Zero strategy is dashing hopes of any quick improvement in China's economic situation, promoting them to save at a record pace and cut back on their spending, further supporting the negative trend of Sodium Citrate. Furthermore, the consumer's purchasing momentum has reduced significantly, affecting Sodium Citrate prices in the United market. Hence, the suppliers opted to put the quotations for the product according to their daily necessities.

As per Chem Analyst, "The price of Sodium Citrate in the coming months is likely to follow a downward trend only. The inventory level might remain on the higher side at the ports and with the domestic market participants, which will likely keep the cost of Sodium Citrate low. Further, consumer sentiment buying activities are anticipated to be on the lower end, supporting this pricing tendency".