Disclosed herein is a thermoplastic cellulosic composition for preparing a cellulose-based masterbatch and/or a fiber with an improved breaking elongation. In one example, the thermoplastic cellulosic composition includes an esterified cellulose present in a range of about 77 wt % to about 95 wt %, polyethylene glycol present in a range of about 4.5 wt % to about 15 wt %, a bifunctional reactant present in a range of about 0.01 wt % to about 3 wt %, an initiator present in a range of about 0.01 wt % to about 0.15 wt %, and a dispersing agent present in a range of about 0.01 wt % to about 5 wt %.