US Vitamin D3 markets extended weakness into early February as abundant imports and discounting eroded spot demand. Early January offers retreated amid steady lanolin inflows, while mid-month buying softened as buyers locked in longer-term contracts. Late January offshore cargoes into Gulf and East Coast tanks prompted trims. The downtrend persisted with weekly declines, as winter supplement demand provided limited support. Demand across sectors remained mixed. Supplements and consumer health channels delivered baseline demand driven by Vitamin D3 in formulations and a tilt toward premium formulations, but uplift was modest and insufficient to offset pricing pressure. Food and beverage fortification, notably in milk alternatives and microencapsulated formats, kept end-market pull resilient. Distribution and online channels were soft, with price transparency and replenishment delays. Imports account for the majority of US Vitamin D3 requirements, underscoring offshore dominance. Outlook remains cautious, with continued surplus and substitution likely to keep pressure on spot offers.
