Glucosamine Prices Trend and Forecast

North America

The GlucosaminePrices remained stagnant throughout the first quarter of 2023, with FOBNew Jersey prices reaching $9250 per MT in March. Because of the market instability in the previous quarter, industry insiders had projected that the pharmaceutical and nutraceuticals industries would continue to sail through mixed sentiments during the first quarter of 2023. However, steady demand from end users and reasonable inquiries from downstream suppliers of nutraceuticals maintained the market dynamics predictable. Since the supply chain and trade remained strong throughout the first half of the quarter, China's relaxation of its zero-covid prohibition was advantageous. This further reduced freight costs benefitting commerce.

Asia Pacific

In Q1 2023, China's decision tolift the stringent COVID-19 restrictions during the first week of January gave the trillion-dollar Asia Pacific economy that had been suffering significantly over the previous four years a fresh start. The first quarter of 2023 in China was, therefore, just marginally beneficial. With prices stabilizing at $6353 per MT in January and $6060 per MT in March, there was little change in the FOB Qingdao pricing pattern in these first three months of 2023. Following the Lunar Holiday, which lasted one week, the price of Glucosamine in the local market for nutraceuticals and pharmaceuticals witnessed a roll-over sentiment for two consecutive weeks in January. Later on, the demand for Glucosamine fell a bit from the end-users resulting in a bit low value in the latter weeks of the quarter.

Europe

The nutraceutical industries inEurope got off to a good start during the first quarter of 2023 thanks to an increase in orders and shipments from both domestic and international markets. Participants in the local market saw positive arbitrage during the vast majority of the period because of the consistent orders for Glucosamine from the end-use market. Although the European market seemed to be headed in the right direction, inflation pressures were lowered by China's COVID's unexpected reopening and the ongoing war between Russia and Ukraine.

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