In the North American region, the Metoclopramide Hydrochloride Prices showcased an oscillating trajectory in the domestic market during the third quarter of 2022, backed by stable demand side from the downstream pharmaceutical industry and increasing feedstock prices. Metoclopramide Hydrochloride started positively with a significant price hike on the back of soaring benzoic acid prices in the US market. Later with the commencement of the second month, the Metoclopramide Hydrochloride prices went down owing to ample inventories and a stable supply chain to cater to the downstream demand. Also, to cope with the rising inflation, the government hiked up the interest rate to normalize the consumer’s requests, propelling the domestic merchants to lower their quotations. Towards the termination of Q3 2022, the value accessed was USD 129460/MT with an average quarterly declination of 1.32%.
During the third quarter of 2022, the price of Metoclopramide Hydrochloride API increased in the Asia-Pacific area. The primary factor driving the increase in Metoclopramide Hydrochloride API pricing in the domestic market during the quarter is the heightened market sentiment for the feedstock benzoic acid. Due to steady demand and sufficient supply already in place, the price trajectory exhibited a minor change in the middle of this quarter, keeping prices on the lower end. Furthermore, rising freight costs and the price of crude oil contributed to an increase in Benzoic Acid Prices. Rising manufacturing and input costs due to rising energy and raw material prices made the market sentiments for metoclopramide HCL robust with favorable cost support. Towards the termination of Q3 2022, the prices were recorded at USD 133660 /MT with an average quarterly inclination of 1.41%.
Throughout Q3 2022, the European market had an improving market sentiment. In Europe, the third quarter of 2022 saw an upward tendency in the price trend for benzoic acid due to strong demand from end-user industries and rising feedstock prices. Benzoic acid (Feedstock) prices rose throughout the quarter, driving the price of Metoclopramide Hydrochloride API to all-time highs. The price of metoclopramide hydrochloride increased due to rising freight costs and increasing port congestion brought on by geopolitical unrest (the conflict between Russia and Ukraine). Due to large stocks and consistent market attitude, metoclopramide HCL prices later began to decline towards the beginning of the third month. Towards the termination of Q3 2022, the prices were recorded at USD 150290 /MT with an average quarterly inclination of 0.48%.
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