Demand for key feed vitamins has slowed, leading to stabilisation in prices across most products. With buyers well contracted for the coming quarters, suppliers and end-users are now focused on managing supply chains and executing existing agreements.
Vitamin E 50%
Suppliers continue to push for higher prices, if they offer material. But at least right now, momentum seems to have slowed down or even disappeared for further price increases. The market is well contracted in advance, with no additional demand emerging, which has slowed things down. The focus is now more on executing pending contracts. Q2 and a significant portion of Q3 are under contract.
Vitamin A 1000
Prices are quite static at the moment, after a period of price increases. Additional/spot demand has slowed down, and the pressure seems to be slightly off the market now; no further price increases have been seen this week. Despite the ongoing risk of further geopolitical developments, for now it seems calm, however it is still a delicate situation. End-users are well contracted for Q2 and a portion of Q3.
Vitamin D3 500
It is currently a stable market at a still elevated price level. Suppliers are keen to maintain the current level and try to manage the volume in the supply chain. At the same time, buyers are cautious about overpaying and are limiting their purchases to the short term. It seems that has led to some balance under current market conditions. A good portion of Q2 is contracted.
Vitamin B2 80%
With a general firmer tone in the vitamin market, vitamin B2 has also firmed a bit in price, but nothing significantly. The recent increase did trigger some forward buying, and Q2 and most of Q3 have been contracted.
D-Calpan
Due to tight availability, the price of D-Calpan has increased significantly over the past few weeks. There was a general expectation that prices would remain low and stocks would be sufficient, but so far, things have turned out somewhat differently. Buyers have secured stock at this point for at least Q2, and the market has cooled down somewhat again.
Vitamin B3
Due to the impact of petrochemical market dynamics resulting from the Middle East war, the supply of certain intermediates used in vitamin B3 production was affected. Combined with previous periods of tighter availability, this led to some firming of prices. However, the market has since calmed, with long-term forward positions taken and prices now appearing stable. Contracts have already been secured for Q2, Q3, and even parts of Q4.
Biotin
After a long period of low and stable price development, the price showed some increase over the past few weeks. It is mostly driven by the overall firmer vitamin market sentiment, initiated by the Middle East situation. Some raw materials for biotin production are most likely affected by that as well. Significant forward cover has been taken by now, and the biotin market has been calmer since then.
Vitamin C 35% mono
Rather large regional differences are seen. For example, the spot prices in Europe have increased quite significantly over the past few weeks as the supply chain has been disrupted ex-China. However, on a FOB China basis, prices have only shown a minor increase, and availability is good. Relatively long forward contracts are concluded for vitamin C mono for Q2, Q3, and even some for Q4.
