Sodium Nitrite Price Trend and Forecast

Regional Price Trend

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

Sodium Nitrite Price Trend for the First Half of 2023

Asia

The sodium nitrite market fluctuated in the first and second quarters of 2023 as the demand from the food and beverages sector improved throughout the quarter. But the rising level of inventories and hikes in interest rates, and inflation in the region remained a challenge for the sodium nitrite prices. In addition to this, the purchasing capacity of consumers and investments reduced significantly with the slump in demand from North America and European nations, which ultimately led to the fall in the price trend of sodium nitrite in the Asia-Pacific region.

Europe

In the first quarter, the prices of sodium nitrite fluctuated as the market was affected by the weak market dynamics of the European markets due to the rising inflation rates and high volatility in the economic conditions of the region. The disrupted economy led to a fall in the confidence of consumers that, in turn, decreased their purchasing potential. However, the trend improved in the second quarter with support from the downstream food industries. The extreme weather conditions pushed consumers to buy sodium nitrite, that had supported the growth of the sodium nitrite price trend.

North America

In North America, a mixed trend in sodium nitrite prices was seen. In the initial phase, support from the food and beverages industries supported the surge in the prices of sodium nitrite. But with the onset of the second quarter, the prices began to decline as a high influx of cheap imports from the Asian countries boosted the level of inventories and led to the decline in prices.

The government also adopted strict monetary policies to curb the financial crises caused by the failure of two major US banks. It also negatively impacted the prices of sodium nitrite. However, the market showcased some signs of recovery in the last month of the second quarter with a rise in demand and stabilized interest rates.

Analyst Insight

According to Procurement Resource, the price trend of Sodium Nitrite is estimated to showcase an oscillating trajectory as the demand and global economic conditions are highly uncertain.

Procurement Resource provides latest prices of Sodium Nitrite. 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.