North America
The fourth quarter of 2023 proved to be challenging for the Acesulfame Potassium market in North America. The prices augmented at the beginning of the fourth quarter-2023 which was influenced by seasonal factors, including the holiday season and New Year's Eve. As winter approached, the demand for beverages and sweets increased, leading to a heightened demand for Acesulfame Potassium intakes in food industries.
Suppliers struggled to keep up with this demand, resulting in decreased supply and a subsequent drop in stock levels. The scarcity in supply was further exacerbated by bulk ordering, putting additional strain on available resources and driving Acesulfame Potassium prices even higher. However, the market experienced a decline as mid-Q4 approaches and ends on a pessimistic note due to a global downturn in downstream consumption and reduced new quotations from the regional market.
Additionally, the market was impacted by the overall economic conditions, including concerns about an imminent recession, and rising inflation. Despite these challenges, the market maintained a moderate to high supply level, with sufficient stockpiles available to meet demand. Furthermore, the regional inquiries of the market experienced a decrease, with limited transactions and reluctance to place new orders. Consequently, the latest price for Acesulfame Potassium CFR Houston in the USA as of December the last month of the fourth quarter was assembled at USD 4990/MT.
APAC
In the fourth quarter of 2023, the Acesulfame Potassium market in the APAC region demonstrated various factors that influenced prices and market dynamics. Firstly, the demand for Acesulfame Potassium remained relatively low throughout the quarter, mainly due to the weak global economy and reduced international inquiries. This lack of demand put downward pressure on prices. Secondly, there was an oversupply of Acesulfame Potassium in the market, particularly in China, as production levels increased in previous months. This oversupply further contributed to the decline in prices. Lastly, the market faced uncertainty and instability due to factors such as rising energy prices and the upcoming holidays during the months of November and December, which led to delays in production and trading activities as a result of which merchants keenly accumulated their inventories for Acesulfame Potassium during October 2023. Furthermore, this decline was also attributed to the growing popularity of alternative sweeteners, such as sucralose and stevia, which led to a decrease in demand for Acesulfame Potassium. Additionally, the overall market transactions were weak, with buyers only focusing on immediate requirements. However, when compared to the same quarter of the previous year, there was no significant change in prices. In conclusion, the Acesulfame Potassium market in the APAC region, particularly in China, experienced a decline in prices due to low demand, oversupply, and market uncertainty. The prices of Acesulfame Potassium in China for the fourth quarter of 2023 ended at USD 4740/MT FOB Shanghai as December 2023 concludes.
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Europe
In the fourth quarter of 2023, the market for Acesulfame Potassium in Europe started on a cheerful note while ended December witnessed a downward trajectory. One of the significant factors driving this substantial price increase is the heightened consumption of artificial sweeteners during the winter months, leading to increased usage in the production of processed foods and beverages during this time of year. The demand for these products rises in winter, leading to a higher demand for Acesulfame Potassium as of October 2023. Another reason for the price rise of Acesulfame Potassium in winter is the escalation in the cost of raw materials. The merchants with respect to the supply aspect raise their quotes from exporting countries to ensure sufficient stock levels in their warehouses as a result of a continuous increase in buying activity. However, as November commences, there was a noticeable decline in demand for Acesulfame Potassium due to weaker consumption of foods containing artificial sweeteners in certain countries. Additionally, high energy costs in Germany further increased market prices and added to the challenges faced by market participants. Furthermore, changes in exchange rates, particularly the appreciation of exporting nations' currencies against the USD, resulted in higher costs of imported raw materials, contributing to a drop in prices. Overall, the supply of Acesulfame Potassium remained sufficient throughout the quarter. However, market transactions were primarily driven by inquiries from the domestic market. Germany, as one of the key players in the European market, experienced fluctuating prices for Acesulfame Potassium. The price of Acesulfame Potassium in Germany ended the quarter at USD 5050/MT CFR Hamburg. This represents the latest price for the current quarter and reflects the overall trends and factors discussed above.
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