Through Q1 2025, China FOB Shanghai, Food-Grade Sodium Bicarbonate prices are expected to decline again to $239/MT, falling -7% from Q4 2024. The weakening will likely be anchored by ongoing weak pharma, detergent, and food demand. While there will be some of the demand from China’s water treatment and pharmaceutical industries that can sustain the market, it will not be enough to offset the massive supply in China and India. Without a significant recovery in these large industries, prices will remain low as the market will still be struggling with poor demand and production costs.
During Q1 2025, the Indian Ex-Mumbai Food-Grade Sodium Bicarbonate market witnessed an abrupt correction as prices fell to $370/MT, witnessing a –10.84% decline from Q4 2024. The fall in prices was primarily due to excess supply within the domestic market and reduced demand owing to the post-festive downturn. Many buyers had stocked up during Q4, thus creating lackluster fresh bookings. Also, pre-year maintenance work in some of the downstream sectors helped to lead to lower consumption, and therefore sellers reduced prices to sustain market activity.













