Agriculture & Food

According to the statistics of China's customs, China's total export of citric acid in 2022 was 1.23 million tons, an increase of 15.08% year on year; The export volume was 2011.763 million US dollars, up 85.80% year on year; According to customs data, the average unit price of exports rose from US $1010/ton in 2021 to US $1640/ton, a year-on-year increase of 62.38%, a record high.

According to customs data, there are 35 countries with exports of more than 10000 tons, of which India ranks first with exports of more than 110000 tons, accounting for 9% of the total exports. The top ten countries in terms of export volume are India, Mexico, Russia, Japan, Türkiye, Indonesia, Germany, the Netherlands, Pakistan and South Korea, accounting for 43.56% of the total export volume.

According to customs data, in the first half of 2022, affected by the COVID-19 and energy problems, foreign manufacturers could not normally and stably produce. The global citric acid market was weak in supply and strong in demand. Chinese citric acid manufacturers' enthusiasm for starting work was greatly improved, and the market price rose strongly, reaching an all-time high. The average unit price of exports to many countries exceeded $2000/ton. According to customs data, factors such as the epidemic situation in the second half of the year, the Russian-Uzbekistan conflict, the expansion competition of production enterprises, and the weak purchasing desire of buyers began to have an impact on the industry. The export unit price has dropped sharply since August, from US $2000 to US $960/ton.

In 2023, it is expected that foreign production will gradually recover, and the demand for Chinese goods in the international market will decrease, and the pattern of strong supply and weak demand may reappear. At the same time, Chinese enterprises continue to expand production capacity, and overcapacity is serious. These factors will seriously affect the export of citric acid products.