Glutamic Acid Prices in Australia Rise by 6% to $1,817 per Ton

Glutamic Acid Prices in Australia Rise by 6% to $1,817 per Ton

In June 2023, the import price of glutamic acid in Australia stood at $1,817 per ton (CIF, Australia), showing a 5.6% increase compared to the previous month. The overall trend of import prices remained relatively flat, although there was a significant 14% monthly growth rate recorded in April 2023. While average import prices reached a record high of $2,073 per ton in December 2022, they remained at a slightly lower level from January to June 2023. Among the major supplying countries, Hong Kong had the highest glutamic acid price in June 2023 at $5,208 per ton, while China offered one of the lowest prices at $1,371 per ton. Over the period from June 2022 to June 2023, Hong Kong witnessed the most notable price growth of 0.7%, while other major suppliers experienced price declines. In terms of glutamic acid imports, Australia imported approximately 190 tons in June 2023, marking a significant decrease of 28.9% compared to May 2023. The pace of import growth was highest in December 2022 with a 69% increase month-to-month. In value terms, glutamic acid imports dropped to $345K in June 2023. China, Indonesia, and Thailand were the main suppliers of glutamic acid imports to Australia, accounting for a combined 97% share of total imports. The largest glutamic acid suppliers to Australia in terms of value were China ($155K), Indonesia ($153K), and Thailand ($13K), representing a combined 93% share of total imports. Indonesia recorded the highest growth rate of import value with a CAGR of 9.5% over the review period, while purchases from other major suppliers showed mixed trends.

Source: IndexBox Market Intelligence Platform

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