Methionine Prices Trend in the second quarter of 2023 | ChemAnalyst

Chemanalyst15 Sep, 2023Business

In the United States, Methionine prices experienced a decline of 16.57% for food-grade and 0.83% for feed-grade variants from April onwards, signaling a persistent weakness throughout the second quarter. This downtrend can be attributed to amplified supply levels and diminished demand, both domestically and internationally. The Purchasing Managers' Index (PMI) for June, which registered at 46.3 compared to the outset of the second quarter, underscores reduced buying activity among end consumers. With subdued market demand, industry participants have opted to reduce Methionine prices to alleviate inventory pressures. Furthermore, the decline in energy costs, a significant input expense for production, reflects the global economic slowdown and lower oil prices, further reinforcing the downward trajectory of Methionine prices.