Agar Agar Prices in the Global Market Online
North America
In North America, the price of Agar Agar fluctuated throughout Q4 2022, supported by conflicting market emotions. Due to the ongoing global pandemic, downstream firms, especially the food industry and laboratories, decreased their demand, which led to a drop in prices in the first quarter of 2022. The market has large inventories, which has lowered prices. Additionally, there is an ample supply to satisfy consumer demand. Additionally, prices rose in the second month of the quarter due to low stock and high consumer demand in the second half of Q4. At the same time, recent price reductions result from lower ingredient costs and a decline in demand.
Asia Pacific
Agar Agar prices in the Asia-Pacific region fell throughout the fourth quarter of 2022 as a result of stable raw material prices. Because demand from end-use sectors such as food and emulsion decreased, Agar Agar’s price fell in China during the first half of Q4. The enormous inventory held by the dealers has further exacerbated the price decrease of Agar Agar. Agar Agar prices for FOB Xiamen in December, around the conclusion of Q4, were estimated to be around USD 13920/MT.
Europe
In Europe, the prices of Agar Agar fluctuated throughout the Q4 of 2022 due to unpredictable market dynamics. The first month of the first part of Q4 saw price hikes fueled by the Russia-Ukraine war, which affected the atmosphere of the global markets. Prices in the second half of Q4 were on the decline in the second month of the quarter, backed by a continuous increase in price that decreased demand. Additionally, prices increased in the last month of the quarter due to high input costs, an increase in the price of raw materials, and a decline in Agar Agar culture. As a result, the product’s price changed during the fourth quarter of 2022.
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