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IndiaIn Q1 2025, the Sodium Nitrate market in India saw a notable rebound, with ex-Mumbai Sodium Nitrate prices rising to $657/MT, reflecting a 12.8% increase from the previous quarter. This growth was driven by a recovery in domestic demand, particularly from the fertilizer and chemical processing industries, as industrial activities resumed after the year-end holidays. On the export side, FOB Nhava Sheva prices climbed to $699/MT, a 12.2% increase, supported by stronger overseas demand, particularly from Southeast Asia and the Middle East, along with a slight tightening of supply due to production adjustments.
In Q4 2024, the Sodium Nitrate market in India continued to soften, with ex-Mumbai prices dropping to $584/MT, a decrease of 2.9% from the prior quarter. This decline was primarily due to weaker demand from domestic sectors such as fertilizers, explosives, and chemicals, which saw a seasonal slowdown. Export prices on an FOB Nhava Sheva basis also decreased slightly to $623/MT, a 1.6% drop. The weaker international demand, increased competition from other exporting countries, and fluctuations in raw material costs, along with ongoing logistical constraints, contributed to the drop in prices.
In Q3 2024, the Sodium Nitrate market in India faced continued downward pressure on prices. Ex-Mumbai prices were recorded at $602/MT, reflecting subdued domestic demand from industries such as glass, textiles, and chemical processing. Export prices on an FOB Nhava Sheva basis stood at $633/MT, with limited international interest due to weak global demand and competitive pricing from other regions. Oversupply in the domestic market, cautious overseas purchasing, fluctuating input costs, and logistical challenges also contributed to the muted performance in both domestic and export markets during the quarter.
In Q2 2024, the decline in Sodium Nitrate prices in India continued but at a slower rate. Ex-Mumbai prices decreased by 2.9%, from $695/ton to $675/ton, and FOB Nhava Sheva Sodium Nitrate prices dropped by 3.3%, from $729/ton to $705/ton. This smaller decline suggested some market stabilization following the more significant decrease in Q1. The slower pace of decline was attributed to still subdued demand in key sectors like agriculture and chemicals, alongside persistent global supply chain issues and raw material price fluctuations. Despite the decline, the market appeared to be adjusting to a more balanced pricing environment, indicating that the correction phase might be nearing its end.
In Q1 2024, Sodium Nitrate prices in India saw a significant drop compared to Q4 2023. Ex-Mumbai prices fell by 6.5%, from $743/ton to $695/ton, and FOB Nhava Sheva prices dropped by 6.7%, from $781/ton to $729/ton. This decline was likely driven by lower domestic and international demand, particularly from the agricultural and chemical sectors, which may have experienced slower production or consumption. Additionally, global supply chain disruptions, raw material cost fluctuations, and trade challenges contributed to the price reduction. The drop in Q1 indicated a market correction following the higher prices of Q4 2023, bringing prices closer to more sustainable levels.
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These events underscore the Sodium Nitrate market’s vulnerability to global disruptions and highlight the need for continuous monitoring of supply-demand dynamics.
This research methodology ensures that PriceWatch delivers the most accurate, timely, and actionable Sodium Nitrate pricing assessments, helping our clients stay ahead of market trends and make informed business decisions.
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Sodium Nitrate (NaNO₃) is a white, crystalline compound widely used in agriculture, industry, and food preservation. It is a key nitrogen source for fertilizers, promoting plant growth, especially in crops like vegetables. Additionally, it is utilized in producing explosives, such as gunpowder, and in manufacturing glass, dyes, and other chemicals like nitric acid. In the food industry, Sodium Nitrate serves as a preservative in cured meats. Due to its oxidizing properties, it must be handled carefully to avoid safety risks. The compound is highly soluble in water and is often found in anhydrous or crystalline form.
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PriceWatch Quotation Terms:
Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.
| Property | |
| Physical state | Solid |
| Appearance | White crystalline powder |
| Melting point | 307 °C |
| Loss on Drying | 0.50%w/w Max. |
| Chloride as Cl | 0.10%w/w Max |
| Sodium Nitrite | 0.20%w/w Max. |
| Specific Gravity | 2.257g/cm3 |
| Specific Gravity | 2.257g/cm3 |
Applications
Sodium Nitrate (NaNO₃) has a wide range of applications across various industries. In agriculture, it is primarily used as a nitrogen fertilizer to boost plant growth and increase crop yields, especially in vegetables and tobacco. In the food industry, it serves as a preservative in cured meats, preventing bacterial growth and enhancing color. Sodium Nitrate is also crucial in the production of explosives, particularly gunpowder, and is used in manufacturing nitric acid for the chemical industry. Additionally, it plays a role in the production of glass, ceramics, and metal treatment processes, improving hardness in steel. It is also used in laboratories for chemical reactions and analysis.
The price of Sodium Nitrate is influenced by several critical factors, including raw material costs (primarily nitric acid and soda ash), global supply and demand dynamics, production capacity, and seasonal demand fluctuations, particularly in agriculture. Additionally, fluctuations in energy prices, transportation costs, and regulatory changes, including environmental policies, can significantly impact pricing. Geopolitical factors and trade policies also play a role in shaping market conditions, making it essential for procurement managers to stay informed of these variables to make effective purchasing decisions.
Forecasting Sodium Nitrate prices requires analyzing historical pricing data, monitoring global supply and demand trends, and assessing economic conditions. Following market reports, tracking raw material price movements, and engaging with industry experts can offer valuable insights. Using advanced analytics tools and keeping up with geopolitical developments, trade regulations, and industry-specific forecasts will help improve the accuracy of price predictions and inform procurement strategies.
Long-term pricing trends for Sodium Nitrate are influenced by factors such as advancements in production technology, changes in agricultural demand, and evolving environmental regulations. Historically, prices have shown volatility due to supply chain disruptions, raw material price fluctuations, and shifts in global demand. Keeping up with industry reports, economic forecasts, and environmental policies will help procurement managers anticipate future price fluctuations and adjust purchasing strategies to optimize costs.
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