For the Quarter Ending September 2023

North America:

Throughout the third quarter of 2023, the Pectin market in North America, primarily centered in the United States, maintained a positive outlook. According to the US Census Bureau, the Manufacturing Purchasing Managers' Index (PMI) for the United States showed a moderate increase, rising from 46.3 in June to 49 in July. This marks two consecutive months where the PMI has exceeded 50, indicating growth in the manufacturing sector. The persistent rise in consumption across the food, pharmaceuticals, and other industrial sectors, driven by hot and dry weather conditions, resulted in an increase in Pectin prices. The late August Hurricane had adverse effects on citrus fruit crops, leading to shortages in upstream materials within the regional market. Additionally, escalating fuel prices contributed to higher transportation costs, impacting the overall cost of shipping HM Pectin to the US. Market participants in the United States responded by focusing on maintaining sufficient HM Pectin stocks to meet potential orders, especially considering the temporary shutdown of manufacturing facilities during the Chinese Golden Week holiday.

Asia Pacific:

In the third quarter of 2023, Pectin prices in Asia Pacific continued to rise. The demand side witnessed a slight improvement, creating a more positive atmosphere. Upstream procurement activities surged, with increased incoming procurement and higher regional orders. Some producers and suppliers capitalized on this trend by selling off existing stockpiles at elevated prices to recover losses. However, high temperatures led to shipment delays and contributed to rising prices in July. The Consumer Price Index (CPI) in China shifted into positive territory in July after a reading of -0.3%, indicating an anticipated rise in August. China's official NBS Manufacturing PMI for August exceeded expectations, reaching 49.7, up from 49.3 in July, signaling sustained high manufacturing activity. The peak season for citrus fruits in China in September impacted HM Pectin pricing, with abundant, high-quality produce available to consumers. Nevertheless, extreme weather events, including floods and droughts, continued to affect Pectin prices, causing supply shortages and driving up prices due to increased scarcity.

Get Real Time Prices of Pectin: https://www.chemanalyst.com/Pricing-data/pectin-1517

Europe:

Throughout the third quarter of 2023, the demand for Pectin in Germany experienced a significant surge. Increasing consumer demand prompted market players to secure their supplies, leading to profitable transactions as goods were sold at higher prices. Weather disruptions, limited supply, and a notable rise in HM Pectin consumption in the food and beverage industry were key factors contributing to this price increase. In September 2023, the cost of upstream citrus fruits steadily increased in Germany. Although the citrus fruit supply in Germany remained stable in September 2023, the demand for hydrating and energizing snacks and beverages during the summer and fall influenced the market activity of downstream H.M.Pectin. The comparatively cool weather in Germany during September resulted in steady demand for citrus fruits. Additionally, an optimistic market trend for Pectin was reinforced by a significant increase in demand in the upstream sector. The robust market trading atmosphere persisted as traders consistently restocked their shelves, procuring the end-product Pectin at a higher US dollar rate, a consequence of the Euro depreciating against the USD.