Industry Information

In 2019, the global caffeine market was valued at US$14.88 billion according to the Caffeine Market report published by global market intelligence company Coherent Market Insight.

Carrageenan is one of the most important edible gel applies in food business for years. The global carrageenan market size is expanding rapidly at a CAGR of 5.9% in the past 2020 and that was the number we see under the impact of COVID-19 epidemic. It will grow to a billion-dollar business in 2027 by estimation at USD 1.17 billion. Kappa Carrageenan finds its wide application in diary and food business for its characteristic fatty mouth feel which gives varieties low fat or skim dairy products a whole flavor. Thus, Kappa Carrageenan is an inseparable ingredient in dairy and other foods especially in industrial production era.

The west port area of Yantian port, which has been suspended for more than a month since May 21, was unsealed and began operations by boat yesterday. The main port area of Yantian Port is expected to be fully restored from tomorrow, June 24, and the berthing of ships will gradually be normalized! At that time, the density of Yantian International Container Terminal may decrease further and the efficiency will rise steadily.

Because of the nCov in Guangdong province in China, Yantian Port, the core port of Guangdong province, the operation efficiency of the port was slower. Port congested, and the containers shortage appeared with a variety of problems immediately, at present, Maersk company has suspended all ships operating in the western regions of Yantian Port, recovery time prior notice.

Foodchem will participate in the FIC 2021 exhibition from June 8th to 10th, booth number 12H01, welcome to visit.

The traditional season of shipping is coming, but congestion at the ports of the USA has not eased, and now the Port of Oakland is overtaking LA/Long Beach as the center of congestion.

Foodchem’s market information seminar is coming. Our senior sales manager Bliss and Laura are sharing you with the lastest information of price change and the reasons. Just click on the video and you will get this!

According to Egyptian media recently, the head of Suez Canal authority, Oussama Rabieh, said that negotiations on financial compensation were underway with the Japanese owner of “Ever Given”. Rabieh hoped that they could reach an out-of-court settlement on this issue.

After April 5th, the price of corns in the Shandong Area stops falling and starts to rise strongly. As of Friday, the purchasing price of corns for a citric acid manufacturer in Weifang rose to 2970 yuan per metric ton; compared to the same period last week 2840 yuan/MT, there is a rise of 130 yuan/MT. According to the production cost of citric acid, the cost has risen 221 yuan per ton, so the cost of raw materials has increased significantly. Based on this, will the citric acid rise as well? Foodchem made research on several manufacturers, and the result comes out as below.