Vitamin A suppliers continue to try to raise prices, but so far without much effect. The same is true for Vitamin E, but the only thing driving up prices so far is higher container shipping rates. Read more in this week’s Feed Additives Snapshot (Week 24).
Vitamin B1 remains relatively firm. Vitamin D3 500 showed a firm trend FOB China in terms of price offers, but did not trade at any real highs. Vitamin C prices have stabilized to some declines, despite reduced production and announced summer maintenance. The remaining vitamins have not shown any significant changes compared to the previous week. Container freight rate increases are beginning to weigh on the lower priced vitamins as well.
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Vitamin E 50%
Market sentiment is less robust than in the previous week. Buying activity has slowed, with most regions returning to a wait-and-see attitude. Shipment delays, price increase announcements, factory maintenance announcements, declining inventory levels, and moderate consumption have helped to drive market strength recently, but these arguments are now losing steam. However, higher container shipping costs have boosted Vitamin E final prices. The third quarter has seen mostly contraction.
We’re tracking market prices for three important vitamins here. Take a look.
Vitamin A 1000
In the US, attempts by suppliers to raise prices are still ongoing. Low inventories indicate material delays. However, no significant changes are visible. Elsewhere, there have been some communications of potential market disruptions, including price increases, production cuts, maintenance periods, and supply delays. However, so far, prices have only increased slightly or remained stable, and buyers have not responded significantly to any of these communications. Prices remain stable in most regions. The market is quiet. A significant portion of Q3 is under contract for now.
Vitamin D3 500
China FOB prices are still firm, and manufacturers and suppliers have a strong desire to raise prices. Container freight rate increases are now starting to become noticeable. However, actual transaction prices in the region have remained almost stable, only increasing slightly. Despite delays from China, rising container freight rates, and rising China FOB prices, the market has remained calm. Some of the third quarter has already been contracted.
Vitamin B2 80%
Recently, there have been some attempts by suppliers to raise prices, but so far there has been no reaction from the market. In general, the Vitamin B2 market is quiet and stable. Prices in Asia are still relatively low, while prices in Europe and the United States are higher. Part of Q3 has already been contracted for strategic reasons.
D-Carpan
Prices have increased slightly recently as container freight rates have started to increase significantly. Nevertheless, prices remain low and stable in most regions as supply remains plentiful and suppliers are eager to maintain market share and move inventory. There has already been some upfront investment being made for strategic reasons heading into the third quarter.
Vitamin B3
Most suppliers have stopped further price cuts and we are now seeing a mostly stable atmosphere. Demand is said to still be sluggish, so significant price hikes are unlikely in the short term. In general, the market is calm and prices are mostly stable at relatively low levels. If we are seeing price increases, it is due to rising container freight rates. Inventory conditions seem fine in most regions. Prices were lower than they are today, so coverage has been secured through the third quarter and in some cases even further.
Biotin
At this time, we are not seeing any change in the biotin market. Supply is ample and long-term contracts have been signed or are pending. Prices remain historically low. Some Q3 is under contract and, in some cases, buyers have signed long-term agreements through late 2024.
Vitamin C 35% Mono
Market sentiment has weakened somewhat in recent weeks, although some manufacturers have indicated they will cut production or enter into extended summer maintenance. While no major changes have been observed, some regions have seen a slight drop in Vitamin C prices, reflecting weak demand. Prices are still higher than they were a year ago, however. There are still long-term contracts signed at previous low price levels, which run through 2024. The third quarter is being contracted primarily based on older contracts at lower prices.
