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.
For the Quarter Ending June 2022
North America
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.
Asia Pacific
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.
Europe
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.
For the Quarter Ending March 2022
In quarter 1 of 2022, the domestic market trend of CoQ10 demonstrated a drastic improvement across the North American region after the CIF Los Angelesvalues rose up from USD517490/MT to USD527765/MT from January to March 2022. The demand for CoQ10 has increased dramatically in the United States among health-conscious customers in order to change dietary patterns. Higher feedstock, freight, and transportation prices have also aided the price trend of CoQ10 in the US market, as the commodity is primarily imported from China. During the month of February, some American importers struggled to satisfy demand, as inventories remained low and supply lines were stretched to handle historic amounts of cargo, particularly from Asia. In terms of demand, pharmaceutical industry offtakes in the US domestic market remained consistent due to sufficient supply that met downstream demand for the time being. The trade situation from Asia was further exacerbated by tensions between Russia and Ukraine.
The European market of CoQ10 showcased a positive outlook in the first quarter of 2022 on the back of the increased demand from the end-user industries. Nutraceuticals are gaining popularity in Europe and are increasingly becoming a part of people's everyday diets, which is one of the main factors driving the demand for CoQ10 across the region. Manufacturers were forced to trade CoQ10 on quoted pricing due to still high freight and feedstock expenses, as well as high input costs due to the peaking energy crisis.
