During the third quarter of 2022, the Glucosamine Price declined significantly, with prices in the domestic US market falling from $10850/MT to $9660/MT FOB New Jersey from July to September. The companies producing Glucosamine were compelled to reduce prices due to the periodic lockdowns in China, where most nutraceutical products are imported. As a result, the second half of the year saw a slight decline in demand in the US. The Biden administration tried to lower inflation by removing some tariffs on imports from China as the two biggest economies in the world grappled with clogged supply chains and rising oil prices. US imports significantly declined as a result of the closure of production facilities in China, many of which were shut down for maintenance throughout H2 of Q3.