Q3 Vitamin Market Update: Rising Prices and Supply Challenges in the Vitamin Industry

The vitamin market is experiencing significant fluctuations due to a combination of supply disruptions, maintenance shutdowns, and increased demand. This update provides an overview of the current state of various vitamins, highlighting some of the key factors affecting their prices and availability:

Prices for Vitamin E have generally increased due to reduced supply due to current shutdowns at several players’ sites between Q2 and Q3. With low inventories in regions like the US and EU, there is high activity in spot business and trading which reflects the market's dynamic nature, presenting prospects for strategic buying.

At the end of April, a fire and explosion in China disrupted the production of intermediates for Vitamin A and carotenoids. Although there were no casualties, the incident is expected to impact the supply of these vitamins. This disruption adds up to interruptions at other producers driven by an industrial accident (in China), a maintenance shutdown as well as industrial action (both in Europe), which could lead to imbalance the supply and demand for Vitamin A and thus to a short-term price increase.

Despite supply disruptions, prices for Vitamin D are not yet rising. However, ongoing global supply chain disruptions and EU import constraints are expected to push the currently low prices upwards.

Vitamin C prices have increased significantly in recent weeks, with several producers quoting limited volumes and entering long shutdowns. The trend has however slightly flattened in the last few days. dsm-firmenich premium forms remain stable.

Prices for Vitamin K3 remain stable, but large players have not been offering significant volumes recently, and a producer in Latin America is still not producing after a natural catastrophe a few months ago. Increased demand in recent weeks has led to delivery issues from some manufacturers, with some producers temporarily halting offers.

Low production output by two major players has slowed supply of Vitamin B1, creating continuous upward pressure on prices. Customers are looking to start covering Q3 despite low availability, potentially leading to further price increases.

Vitamin B2 prices are firming up due to delays and shortages caused by disrupted shipping routes, especially affecting spot buys in Europe and creating supply gaps in other regions. Some producers are expected to push pricing to regain profitability, while new entrants struggle to gain market share.

Vitamin B3 prices have been experiencing upward pressure due to reduced availability of intermediates and increased transport costs. While the current market is now stable, price increases are possible in the coming months as producers seek to maintain profitability amidst rising raw material costs.

Prices for Vitamin B5 are stable at historically low levels, with buyers showing interest in Q3. Higher freight costs are impacting spot prices, and market dynamics will depend on manufacturers' strategies for market share. Small spot price increases have occurred due to local availability issues.

Vitamin B6 prices have stabilized at higher levels compared to previous months, with manufacturers pushing for further increases.

Oversupply continues for Vitamin B7 (Biotin), causing prices to drop slightly. There is no indication of a reversal in trend, as manufacturers are unwilling to lose market share. The market has largely covered long-term needs at current price levels.

Prices for Vitamin B9 have stabilized as producers adjust output to match low demand. Prices could be affected by supply chain disruptions and increasing freight costs, encouraging vigilant market participation.

Vitamin B12 prices have increased recently due to rising demand and limited availability, but remain low by historical standards outside Europe, leading to still limited supply.

In Europe, NHU has been granted registration, with the first shipments expected in the coming weeks. Despite this, supply is still expected to be tight in the coming months, as CSPC’s registration is still in process. The EU price is anticipated to remain high in the coming months.

In summary, the vitamin market is currently facing supply challenges and price fluctuations due to disruptions and maintenance activities. While some vitamins maintain stable prices, others are experiencing significant increases. It is crucial for market participants to stay informed as the industry adapts to these complexities, especially with Q3 negotiations underway, and prioritize strategic purchasing and active market engagement to effectively navigate these changes and increased commercial activity.

Published on

17 June 2024


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