Vitamin C Prices to Surge in China as Demand Hits: Will 2023 be a 'Panacea' for Market Players?
- 06-Jan-2023 3:16 PM
- Journalist: Harold Finch
Following a turbulent year, the Chinese market was once again jolted when cases of Covid-19 emerged in the country's key manufacturing hubs shortly after the government chose to relax its zero-covid regulations in response to the country's unrest and massive protest. Although shifting gears may initially hurt, if done correctly, the benefits are numerous; nevertheless, this is not the case with China's choice to review its covid rules. These circumstances are likely to hinder China's growth in the near future. The biggest concern is how speedily it will be able to recover in the medium term or in roughly four to six months in 2023.
According to sources, major cities like Shanghai, where the majority of Vitamins are manufactured, may be experiencing a peak in infection. Due to China's strong demand for Vitamins, notably Vitamin C, this may severely constrain production at that particular hub. Due to the current scarcity of products for home remedies, such as lemons and Vitamin C-rich canned peaches, the demand for nutritional supplements containing Vitamin C in China has increased significantly. Even while hoarding has been a widespread problem around the world, this may be the first incidence of it since lockdowns were relaxed, particularly for Vitamin C in China.
Similar to other places in the world, individuals frequently share online images of empty grocery aisles in major cities before draconian "stay at home" directives are implemented in China. However, despite the country's relaxation of track-and-trace regulations and the ability for individuals to self-isolate at home and conduct virus tests on themselves, local merchants, as well as local people, still seem to be panic-buying Vitamin C in preparation for a winter wave.
According to News Reports, there has been an "explosive surge in demand" for generic medications and Vitamin C supplements. According to other sources, lemons are currently in short supply in China, and several online and offline buying platforms have run out of them. However, medical professionals contest this, with several appearing on the prestigious television network CCTV to caution viewers against taking Vitamin C "excessively" given the continued demand for the supplement. The unprecedented wave of Covid infections in China has significantly increased demand for Vitamin C. As a result, the government is expected to increase the production of Vitamin C to meet the skyrocketed demand, which will also have an influence on its prices in China.
ChemAnalyst predicts that given the current circumstances and the extremely high demand, vitamin C prices would rise significantly in the local Chinese market. To "guarantee the quality, safety, and supply" of Covid-19 treatments, China's Food and Drink Administration has promised drug-related businesses to increase the production and distribution of such products, including Vitamin C.