North American region, primarily the United States market, the Tryptophan prices plummeted during the final Quarter of 2022. With the start of the fourth quarter er, the prices increased considerably. The prices witnessed an increment during the first half of the fourth quarter due to rising inflation, numerous logistic issues, and higher manufacturing cost in the export country. Additionally, prices began to drop progressively in the middle of the fourth quarter because fewer inquiries kept the stocks at their highest levels later in December. Also, with ease in inflation and other logistics, the prices decreased in the month of December.
The prices of Tryptophan in the Asia Pacific region, majorly in China, demonstrated an inclined market situation throughout the fourth quarter of 2022. In October, the prices for Tryptophan inclined considerably. Following November, the official manufacturing purchasing managers index (PMI) fell to 48.0% in November, slipping well below last month's reading of 49.2. Regardless of this, the prices for Tryptophan continue to rise on the back of rising inquiries and very high input and production costs. Also, increased end-user sector demand and hand-to-mouth inventories among the market players further supported the market trajectory in the APAC region. Towards the end of Q4 2022, the price of Tryptophan was recorded at USD 8810/MT.
Prices for Tryptophan in the European region showed a see-saw tendency in the fourth quarter of 2022. In the first two months of Q4, the demand for Tryptophan in the downstream pharmaceutical industry was seen to be steady. The supply chain was impacted by the continuous port congestion and supply disruption in the European region, which forced an increase in pricing. High freight costs were another factor in Tryptophan's upward trend. Due to the impending holiday season, European retailers have decided to refill their stocks in large quantities.
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