Dextrose Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Dextrose in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Dextrose Price Trend for the First Half of 2023

Asia

The price trends for Dextrose exhibited mixed patterns in the Asian market during the first two quarters of 2023. The market initially inclined in the first quarter as the reopening of Chinese industries after a long Covid-19 lockdown raised queries for Dextrose in the Chinese market. The lunar new year holidays in the first quarter also supported increasing consumer demands.

As the supply chains got better and other global markets also warmed up, orders rose for Asian markets both domestically and internationally. But as the inventory levels started rising and other upstream costs also decreased because of crude oil and energy prices normalization at the quarter shift, prices started declining primarily because of a decline in demands. Though the downward fluctuations were in a narrow range, dextrose prices mostly stayed on a declining trajectory throughout the second quarter.

Europe

Contrary to the Asian market, dextrose prices declined constantly throughout the first half of 2023 as cheap Asian imports became available in the European market. Energy and crude oil prices started normalizing, and the supply chains were restored. These factors subsided the upstream costs substantially for Dextrose, impacting the overall market prices. A decline in consumer demands also supported these falling price patterns.

North America

The North American market started slow for Dextrose but then picked up pace as quarter one came to an end. Initially, in January, the dextrose inventories were saturated, which hindered suppliers from ordering new stocks. But as the inventories got consumed with time, the prices started rising. So, the dextrose prices fluctuated throughout H1 2023.

Analyst insight

According to Procurement Resource, the price trends for Dextrose are expected to oscillate given the current uncertainties in market demands and available inventories.

Dextrose Price Trend for the Second Half of 2022

Asia

Dextrose prices remained on a high run for the majority of H2 2022. Initially in Q3 production costs remained high because of the supply chain curtailments and very strict zero covid policies in China, but as Q4 arrived upstream situations improved. Freight systems became functional again, but as the production eased, market demands inclined. High demand supplemented the price trends. Few dips in the price trends attributed to occasional slides in end consumer demands, overall, a rising price trend sustained for dextrose in H2 2022.

Europe

The European market started Q3 with an almost stagnant, stable price trend for dextrose owing to consistent upstream costs and stable demands. But as Q4 approached prices fell sharply after a slight upward run. In the fourth quarter, the initial hurdles for the European economy as seen in H1 got subsided. Supply chains returned to normalcy and Chinese markets reopened which brought down the upstream costs considerably. So even with stable market demands prices slid down swiftly in the later Q4.

North America

American dextrose market showcased a very mixed trend throughout H2 2022. From a stable start in Q3 to demand dips in later Q3 to a re-rise of prices with a rise in production costs and to finally sliding in later H2, Dextrose price trends remained oscillating. Most peaks in price trends were attributed to the rise in inflation and difficult economic situations, while lowered purchasing capacities and thus lowered end-consumer demands contributed to price dips.

Analyst Insight

According to Procurement Resource, the dextrose prices are expected to remain mixed and hovering at the upper end in the coming months. The rising inflation coupled with normalised supply and rising demand will cause the prices to incline subject to occasional fluctuations.

For the Second Quarter of 2022

Asia

The Asia Pacific region's dextrose market was stable in the second quarter of 2022. The demand from downstream industries like pharmaceutical and beverage as well as from R&D activities was flexible. Glucose serves as the basic ingredient for the excipient dextrose.

Due to a little drop in the price of raw material glucose at the end of Q2 2022, there was a small change in dextrose prices. The dextrose markets in the local area and abroad were both stable.

North America

Due to solid demand dynamics and a strong supply, the dextrose market in the North American region was reported to be stable during the second quarter of 2022. Throughout the quarter, the downstream demand from the pharmaceutical and other industries remained steady. The price of feedstock glucose saw a borderline fluctuation in the lower end of Q2 2022, which was followed by a trend in the price of dextrose. Per ton price of dextrose in this quarter was 867 USD.

With cheap raw material costs and consistent manufacturing costs, the dextrose market was in good spirits. The prices of dextrose were seen to be stable, with a declining price trend toward the end of the quarter due to sufficient supplies and existing stock.

Europe

The dextrose market dynamics in the European region showed a consistent pricing trajectory and stagnating market demand from the downstream beverage and pharmaceutical industries, among others. In addition, reliable demand, regular demand, and stable manufacturing costs kept the dextrose market prices fixed.

Market attitudes were variable in both domestic and foreign markets. Since there was a surplus of excipients available, the market's supply and demand remained balanced. Dextrose prices had a constant price trajectory with a little decline at the end of Q2 2022.

For the Fourth Quarter of 2021

Asia

Concerns over rising corn and dexrose prices in the United States led China to dramatically curtail its imports from the United States in December 2021. In the third quarter of 2021, China shifted to Ukraine and Bulgaria for corn imports.

The prices decreased in the fourth quarter from their all-time highs in March to match those of wheat as domestic corn production was harvested. By mid-October 2021, the crop’s prices in Shandong province had dropped by 15%, to 409 USD/MT.

North America

Raw material corn prices in the United States fell to 196 USD/MT in October 2021 as the new crop was harvested, boosting supplies, but prices quickly rebounded by the end of the year, rising to 216.52 USD/MT due to the crop’s increased demand on the international market.

Europe

In Q4 2021, refined sugar price was at 446 USD/MT in December.  Corn prices in the EU began to rise again in the fourth quarter of 2021, reaching 320 USD/MT as China's demand grew due to restricted availability.

Latin America

In December 2021, in Brazil, the price of raw material cassava was recorded at 124 USD/MT while the price of corn fell in the fourth quarter of 2021 as a result of increased domestic supplies and fresh harvests in the United States.

Corn exports in Brazil slowed as farmers were prepared to sell their crop at low prices. The prices fell 5.4% to 202 USD/MT from the previous quarter. Dextrose prices were affected in a similar way. 

For First, Second and Third Quarters of 2021

Asia

Raw Material maize prices in India fell by 6% to 210 USD/MT in the second quarter of 2021, compared to the previous quarter. Corn prices declined by 9.45 USD/MT to 210.23 USD/MT in August 2021, as extreme weather conditions harmed corn crops in the United States and Brazil, causing prices to climb again. As a result of this, dextrose prices were affected as well.

North America

Price of the raw material, corn, in the United States was 314.94 USD/MT in the second quarter, up 78.73 USD/MT from the previous quarter. Low supplies in Brazil, as well as drought-stricken areas in major maize-producing states like Iowa, kept prices high while China's demand for the crop grew. In the third quarter of 2021, the United States became a big corn exporter due to increased pricing.

Europe

In 2021, in Europe, refined sugar price was at 470 USD/MT in January and 480 USD/MT in September. Storms and severe rainfall in Europe harmed raw material maize crops in the summer of 2021. However, certain countries, like as France, saw significant maize yields after receiving favourable moisture content.

Maize prices in the EU were largely low in the first quarter of 2021, with a high of 270 USD/MT. Prices continued to grow at the conclusion of the second quarter and reached close to 340 USD/MT in June 2021. Prices hovered around 300–320 USD/MT in the third quarter before dropping to 270 USD/MT by the end of September. Dextrose prices followed a similar trend.

Latin America

In 2021, in South America, in Brazil raw material cassava price was recorded 83 USD/MT in January, and 101 USD/MT in September. Refined sugar price was 444 USD/MT in January, and 690 USD/MT in September.

Raw material corn prices were still on the rise in Brazil by the third quarter of 2021, as the country's national agricultural agency, CONAB, implemented production cuts, resulting in an international increase in its prices, also affecting dextrose prices.

Drought conditions in major producing states, as well as the impact of frost in June, had a significant influence on corn production in Brazil. When compared to domestic market prices, import expenses were lower.

For the Year 2020

Asia

In 2020, the price of refined sugar in China was 850 USD/MT in January and 824 USD/MT in December, whereas, in India it was 491 USD/MT and 477 USD/MT, respectively in the two months.

The price of raw material, cassava, in Indonesia was recorded at 72 USD/MT, lowest at 68 USD/MT and in Vietnam it was 99 USD/MT in January, which dropped to 94 USD/MT later in the year. Price of raw material, corn, in China increased from 295.8 USD/MT in the first quarter to 409 USD/MT by the end of 2020, owing to record-high corn imports.

In 2020, the United States was China's primary maize supplier. Despite China's limited amount of arable land, the country extended the planting areas when maize prices soared. As the country recovered from the African Swine Fever pandemic, demand for the grain grew.

North America

In 2020, dextrose prices in the US were recorded at 726 USD/MT, up from 699 USD/MT in 2019. Corn prices in the United States grew to 133.26 USD/MT in July 2020, up 6 USD/MT from the previous month. The demand for the crop increased, resulting in this price increase.

As a result, production was expanded in order to meet the increasing demand, resulting in lower pricing subsequently. Maize consumption had been low in recent months due to poor demand from chicken farms as a result of the coronavirus outbreak.

Europe

In 2020, the price of refined sugar was 400 USD/MT in January and 462 USD/MT in December. Ukraine was a major exporter of corn to China, the Netherlands, Turkey, and Egypt in 2020. The crop’s average price in Ukraine was between 242-261 USD/MT.

Ukraine's exports to China increased by 80% in 2020 compared to the previous year. The Ukrainian government abolished its embargo on agricultural land sales in 2020, boosting the country's economic growth. These factors impacted dextrose prices as well.

Latin America

In Brazil, the raw material cassava price was recorded at 114 USD/MT in January and 90 USD/MT in December. Raw material corn prices in Brazil reached a high of 193.29 USD/MT by the end of the first quarter of 2020.

The prices in southern Brazil fell by 6% at the start of the second quarter of April 2020, owing to the arrival of corn imports as well as an increase in safrinha corn production in Mato Grosso. Initially in 2020, a drought in Brazil's southern state of Rio Grande do Sul affected corn crops, lowering total production levels in the country.

Procurement Resource provides latest prices of Dextrose. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.