In Q1 2024, the Sodium Acetate Trihydrate market in India witnessed a price point of INR 28,210/MT, marking a slight decrease of 0.4% compared to the previous quarter. This decrease can be attributed to a more abundant supply of raw materials and improved production efficiency from food preservative manufacturers, contributing to the lower price point. Additionally, the chemical industry contributed to the steady consumption of Sodium Acetate Trihydrate, yet the market faced challenges due to factors such as fluctuating raw material prices and changing regulations in production practices.
In Q2 2024, Sodium Acetate Trihydrate prices in India fell further to INR 25,810/MT, reflecting a sharp decrease of 8.5% from Q1. This trend can be attributed to several factors, including a temporary reduction in demand following the festive season, which traditionally sees higher consumption. Additionally, an abundant supply of Sodium Acetate Trihydrate in the market allowed buyers to negotiate better pricing.
By August 2024, the pricing for Sodium Acetate Trihydrate stabilized at INR 25,690/MT, indicating a modest increase of 2.7% from July. This stabilization can be linked to a recovering demand as the food and beverage sector ramped up production in preparation for upcoming festive seasons. Global trends such as rising production costs and transportation challenges also played a role, as logistical issues persisted despite improved capacity in some regions.
Looking ahead to Q4 2024, the Sodium Acetate Trihydrate market is expected to see further fluctuations driven by seasonal demand, particularly as industries prepare for year-end festivities. Anticipated increases in demand from the food and beverage sector, alongside potential supply constraints due to production adjustments, could lead to upward price pressure. Furthermore, any geopolitical factors or environmental regulations affecting production could also impact pricing.