For the Quarter Ending March 2023
North America
The price of CoQ10 in North America fluctuated throughout the first quarter of 2023, supported by the unstable market sentiments in the US local market. Prices stabilized and saw a small uptick in the first month of the quarter. A little decline from the second month of the quarter was observed because of demand from downstream businesses, including the pharmaceutical industry. Prices dropped throughout the first quarter as a result of falling import costs on the domestic US market. The majority of Chinese imports into the USA are bought at lower prices as a result of price reductions in the Chinese market, which also contributed to the product's decreased end-of-quarter pricing. Towards the end of the Q1 of 2023, the prices for CoQ10 were assessed around USD 296600/MT for CIF-Los Angeles in March.
Asia Pacific
Given the consistent market dynamics of the Chinese and Indian markets, CoQ10 prices in the Asia-Pacific area fluctuated during the first quarter of 2023. Prices in the first month of Q1 2023 remained higher due to insufficient supplies in the domestic market. Prices in the second month kept rising as the second half of the quarter got began. Despite a fall in demand from end-user industries over the last month, supported by several easily available inventories in the domestic market, prices were reduced. Prices of CoQ10 for Ex-Shanghai were estimated to be approximately USD 265250/MT around the conclusion of the first quarter of 2023 in March.
Europe
In Europe, the price for CoQ10 fluctuated during the first quarter of 2023, leading to an unstable market dynamic for the product in its domestic market. Due to limited supplies in the German domestic market, prices rose during the first month of Q1 2023. As the second half of the quarter got underway, prices in the second month continued to rise. Prices were decreased despite a decline in end-user industry demand over the previous month, which was aided by a number of readily accessible inventories in the domestic market. Towards the end of Q1 of 2023, the prices for CoQ10 for Hamburg, Germany, were assessed at around USD 285600/MT in March.
For the Quarter Ending December 2022
North America
The price of CoQ10 in North America declined throughout the fourth quarter of 2022, supported by the stable market sentiments in the local market. In the first month of the fourth quarter of 2022, prices stabilized and achieved a slight reduction. Due to demand from downstream industries like the pharmaceutical industry, a minor drop was seen. Prices fell for the duration of the fourth quarter, especially in the second month, due to decreasing import prices in the domestic US market. Due to price cuts in the Chinese market, which also played a role in the product's reduced end-of-quarter pricing, the majority of Chinese imports into the USA are purchased at lower rates. Towards the end of the Q4 of 2022, the prices for CoQ10 were assessed around USD 325600/MT for CIF-Los Angeles in December.
Asia Pacific
Given the consistent market dynamics of the Chinese and Indian markets, CoQ10 prices in the Asia-Pacific area decreased during the fourth quarter of 2022. Due to adequate supplies on the domestic market, prices in the first month of Q4 2022 remained stable. As the second half of the quarter got underway, prices also started to drop in the second month and kept going through the last month due to a drop in demand from end-user sectors, which was supported by a number of inventories that were readily available on the domestic market. Prices of CoQ10 for Ex-Shanghai were estimated to be approximately USD 285450/MT around the conclusion of the fourth quarter of 2022 in December.
Europe
In Europe, the price for CoQ10 decreased during the fourth quarter of 2022, leading to a decrease in demand for the product in its domestic market. Prices decreased in the first quarter of 2022 because of the market's substantial amount of inventory. The commodity's price fell because of stockpiling because local consumers and retailers did not show much interest in it. Due to weak demand and an excess of supplies on the market in the second half of Q4 2022, prices also continued to decline. Towards the end of Q4 of 2022, the prices for CoQ10 were assessed at around USD 302400/MT in December.
For the Quarter Ending September 2022
North America
In North America, the price of CoQ10 fluctuated throughout the third quarter of 2022, supported by the conflicting market sentiments in the local market. The prices stabilized and reached a modest increase in the first month of Q3. The slight increase was noticed because of demand from downstream industries, such as the pharmaceutical industry. Prices declined during the remainder of the third quarter, particularly in the second month, because of lower import prices on the local US market. Most of China's imports to the USA come at lower prices due to price reductions on the Chinese market, which also contributed to the product's lower end-of-quarter pricing. Towards the end of the Q3 of 2022, the prices for CoQ10 were assessed around USD 410280/MT for CIF-Los Angeles in September.
Asia Pacific
In the Asia-Pacific region, the price of CoQ10 saw a fluctuation during the third quarter of 2022 because of the volatile market dynamics of the Chinese and Indian markets. Prices in the first month of Q3 2022 were constant since there were sufficient supplies on the domestic market. Additionally, as the second half of the quarter began, prices started to decline in the second month and continued through the last month because of a decline in demand from end-user sectors, which was backed by many stocks that were available on the domestic market. Prices of CoQ10 for Ex-Shanghai were estimated to be approximately USD 325310/MT around the conclusion of the third quarter of 2022 in September.
Europe
In Europe, the price for CoQ10 decreased during the third quarter of 2022, leading to a decrease in demand for the product in its domestic market. Due to the market's large amount of inventory, prices fell in the first half of Q3. Stockpiling of the commodity because of poor demand from local merchants and consumers contributed to its price decline. Additionally, prices steadily dropped in the second half of Q3 2022 because of poor demand and a surplus of supplies on the market. Towards the end of Q3 of 2022, the prices for CoQ10 were assessed at around USD 330100/MT in September.
The North American CoQ10 market commenced the second quarter of 2022 on a positive note with values of $480450 per MT in April, which then fell to $475100 per MT in the month ending June 24th. Following a protracted supply interruption, the COVID lockdown in Shanghai's commercial hub resulted in major import delays and shortages in the US markets. There was another cargo surge at Californian ports as a result of worries that the COVID-19 lockdowns in Shanghai would be removed later in the spring. Inventory replenishment supplies filled Southern California warehouses to the brim, leaving little space for the subsequent influx of imports. Given that long-term inflation expectations remained anchored, the political situation between Russia and Ukraine did not improve, and crude prices were extremely unpredictable, domestic buyers were concerned about high raw material prices during H1 of Q2 2022. Due to dramatic fluctuations in oil prices, monthly import, consumer, and production spending gradually increased in May. Ocean cargo from China appeared to be moving freely via the country's main ports despite the Asian blockades. On the supply side, suppliers had an adequate supply of goods to meet domestic demand.
During Q2 of 2022, the price trend for CoQ10 in the Asia Pacific region exhibited a declination. CoQ10 prices in China fell precipitously between April and June, from $394750/mt to $368500/mt, showcasing a drop of -6.6 percent in the second quarter. Following the opening of China's ports and manufacturing facilities, the nation's CoQ10 output accelerated throughout H1 of Q2 2022. While the product's supply in the domestic market rebounded, foreign trade continued to be hampered. Following a spike in COVID-19 cases in China during the final week of April, Chinese authorities put significant manufacturing centers on lockdown, which caused various reactions in the nation's markets, including those for nutraceuticals. Demand-wise, offtakes from the end-user industries stayed consistent over the course of the quarter. Shanghai serves as China's main export hub; therefore country's controversial Zero-COVID policy trapped hundreds of cargo ships in ports, driving up freight costs and inflation. Due to the high COVID duties, several factories were prepared to offer the product at a discount towards the end of the quarter in order to move inventory before it spoils. The values deaccelerated from INR 438364.03/mt to 417318.44/mt in the domestic market of India during this quarter.
The cost of CoQ10 remained high in the second quarter of 2022 across Europe, although it started to decline around the end of June. Due to the Russia-Ukraine conflict, which caused freight costs to soar and the European supply chain to become disrupted, trade activity from importing countries was also primarily restricted. Throughout the entire quarter, demand from end-user industries like the pharmaceutical and nutraceutical sectors remained steady. The entire domestic demand, however, was satisfied by sufficient supplies at the suppliers.
