China was its third largest consumer in 2020. In China, the average price of citric acid was 605.83 USD/MT in 2020. The imports from China were also delayed and high freight costs drove up the prices even more.īrazil recorded a mean price of 1436.66 USD/MT in the first three quarters of the year. Citric acid prices were soaring in the US due to supply shortages as production suffered owing to unfavourable weather conditions. The mean price in the US in the first three quarters was 2444.44 USD/MT. As demand increased, the supply from China was limited, which drove up citric acid prices in Europe.Ĭitric acid prices surged high in the North American region, as they witnessed a supply shortage and shipment delays. In Europe, the chemical’s market experienced a high demand as consumer requirements shifted to more natural products for skincare. Germany recorded the average price of 1721.55 USD/MT in the first three quarters. The average price in Australia in the first three quarters was 1672.5 USD/MT. The price in India was recorded at 1316.66 USD/MT. The export demand rose by the end of the second quarter. In 2021, the mean price in China in the first three quarters was 867.5 USD/MT, which started from 710 USD/MT and rose to 980 USD/MT.

The average price of the acid in Brazil was 1430 USD/MT.įor First, Second and Third Quarters of 2021 As a result, they were hovering around 2610 USD/MT in the country. Citric acid prices in the United States increased, owing to inflation and supply chain issues. Germany recorded a mean price of 2093.5 USD/MT. The average citric acid price in Australia in Q4 was noted to be 2035 USD/MT. Because of the prolonged supply shortage, warehouses in Europe were empty, and any price increase was immediately accepted by the market. In addition to rising resource prices, ocean freight rates were also increasing. As a result, the cost of producing citric acid rose.

Corn prices in China continued to stay extremely high.

Citric scid