For the Quarter Ending September 2025
APAC
• In China, the Vitamin B1 Price Index rose by 5.99% quarter-over-quarter, driven by export strength.
• The average Vitamin B1 price for the quarter was approximately USD 31856.67/MT on FOB shipments.
• Manufacturing recovery and seasonal restocking supported a firmer Vitamin B1 Spot Price for exporters abroad.
• Freight shifts altered the Vitamin B1 Production Cost Trend, pressuring export margins and availability significantly.
• Exporters responded with competitive offers, tightening spot liquidity and influencing the Vitamin B1 Price Index.
• Muted consumption shaped the Vitamin B1 Demand Outlook, with cautious procurement and selective restocking observed.
• Short-term Vitamin B1 Price Forecast indicates modest gains as inventories gradually normalize and demand strengthens.
• Golden Week stocking and Q4 preparation supported renewed buying, reducing short-term excess and firming prices.
Why did the price of Vitamin B1 change in September 2025 in APAC?
• Stronger export orders ahead of holidays increased buying urgency, offsetting earlier inventory-driven price weakness temporarily.
• Weather-related production interruptions in July reduced available shipments, creating short-term upward pressure on prices regionally.
• Freight and logistics swings altered exporter margins, prompting price adjustments as suppliers defended profits period.
Europe
• In the Netherlands, the Vitamin B1 Price Index rose slightly quarter-over-quarter, reflecting firmer import prices and limited availability from Asian origins.
• Vitamin B1 Spot Price strengthened as tighter Chinese export supplies and logistics delays supported higher landed costs.
• The Vitamin B1 Price Forecast indicates moderate gains through Q4 as restocking activity and steady pharmaceutical demand sustain procurement momentum.
• The Vitamin B1 Production Cost Trend for importers remained elevated due to persistent freight and handling charges, offsetting minor currency relief.
• The Vitamin B1 Demand Outlook in Europe was steady, supported by consistent requirements from the pharmaceutical, nutraceutical, and fortified food sectors.
• Market participants noted balanced inventories as traders timed purchases cautiously, limiting excessive price swings across the quarter.
• The Vitamin B1 Price Index movement reflected a mix of import cost pass-through and strategic restocking by distributors in anticipation of Q4 demand.
• Stable downstream activity and moderate consumption trends maintained a controlled pricing environment despite constrained supply conditions.
Why did the price of Vitamin B1 change in September 2025 in Europe?
• Reduced Asian export availability tightened import supply, increasing landed costs and supporting modest price firmness in the Netherlands.
• Higher freight and logistical expenses, along with longer lead times, elevated overall import costs for Vitamin B1 shipments.
• Cautious restocking by European distributors and stable end-user demand supported steady pricing momentum despite limited trade activity.
North America
• In the USA, the Vitamin B1 Price Index rose modestly quarter-over-quarter, supported by higher import costs and steady pharmaceutical sector demand.
• Vitamin B1 Spot Price firmed early in the quarter as limited Asian export availability and extended transit times elevated landed costs.
• The Vitamin B1 Price Forecast signals mild upward movement through Q4, driven by restocking requirements and steady consumption across nutritional supplement manufacturers.
• The Vitamin B1 Production Cost Trend for importers reflected persistent freight and handling costs, with partial offset from stable currency exchange dynamics.
• The Vitamin B1 Demand Outlook remained steady, supported by consistent orders from pharmaceutical, nutraceutical, and fortified food sectors amid controlled inventories.
• The Vitamin B1 Price Index reflected import-driven pressure, with moderate distributor replenishment and strategic inventory management limiting volatility.
• Balanced stock positions across major ports and improved shipping conditions stabilized overall market sentiment through late September.
• Market participants highlighted firm supplier offers from Asia as the main factor sustaining pricing levels despite easing logistical pressures.
Why did the price of Vitamin B1 change in September 2025 in North America?
• Tightened supply from Asian exporters and higher landed costs due to freight fluctuations increased import-driven price pressure in the USA.
• Sustained pharmaceutical and supplement manufacturing demand supported steady procurement, limiting the downside for Vitamin B1 prices.
• Improved logistics and gradual stock replenishment moderated price gains, maintaining controlled price movement through the quarter.
For the Quarter Ending June 2025
North America
• The Vitamin B1 Price Index for U.S. importers increased sharply in April and May due to preemptive procurement from China before anticipated tariff reinstatement.
• In April, restocking surged as importers reacted to expected trade barriers; however, Vitamin B1 was later exempted from tariffs, softening some pressure on the product price forecast.
• U.S. buyers frontloaded orders in May, leading to congested supply chains and a surge in shipping rates by over 27%, raising product spot prices.
• The temporary 90-day tariff suspension (until August 14) intensified inbound volumes from China, tightening domestic availability of freight capacity.
• U.S. supplement, fortified food, and animal nutrition sectors increased orders in May to hedge against expected cost escalation, supporting a bullish product demand outlook.
• June saw easing in import prices as deflation in China passed through to international markets, reversing May’s highs.
• Importers in June became cautious; existing inventory levels were sufficient, and many adopted a wait-and-watch approach, cooling product demand outlook.
• Logistic costs fell sharply in June, lowering landed prices and weakening product price forecast sentiment.
• U.S. buyers negotiated aggressively on prices amid weakening input costs and ample stock.
• For July 2025, the Price Index may increase slightly, driven by opportunistic replenishment by select players after June’s dip.
APAC
• The Vitamin B1 Price Index in China rose from USD 30,000/MT in April to USD 30,500/MT in May, then declined in June, indicating a volatile quarter.
• April’s Price Index increase was supported by solid product demand outlook from the domestic food and nutritional supplement sectors and strategic restocking from global buyers ahead of potential tariffs.
• Despite macroeconomic contraction, April's tight supply and tariff uncertainty sustained high product spot price levels.
• May witnessed further upward momentum in the Price Index amid a 90-day tariff suspension, surging container costs, and peak-season restocking by U.S. importers.
• Product production cost trend rose in May as container spot rates on key routes surged 27%, leading to increased export pricing leverage.
• June experienced a clear downturn in the Price Index, driven by global buyer withdrawal, deflationary input prices, and surplus inventory, softening product price forecast sentiment.
• Chinese Vitamin B1 producers maintained stable output in June, but signs of overcapacity pressured the product spot price.
• Weak procurement from pharmaceuticals and fortified food sectors in June dampened the product demand outlook.
• Falling freight rates and China’s declining PPI (-3.6% YoY) further eroded exporter pricing power.
• For July 2025, a marginal increase in Price Index is likely, driven by short-term buying revival after June’s dip, although inventory pressure may cap gains.
Europe
• The Vitamin B1 Price Index for European importers rose significantly during April and May, aligned with rising Chinese FOB prices and strategic pre-summer restocking.
• April demand was robust across Europe as manufacturers in food and pharma sectors replenished inventories in anticipation of Q3 slowdowns, lifting product spot prices.
• Despite exemption from U.S. tariffs, Europe’s imports competed with U.S. demand, tightening global availability and raising the product production cost trend for European buyers.
• May saw intensified purchasing by European distributors amid rising freight costs and limited vessel space from China.
• Exporters favored the U.S. market in May due to higher margins, leading to constrained European supply and further pushing up the Price Index.
• Downstream sectors such as nutraceuticals and animal feed showed strong offtake, supporting the product demand outlook during early Q2.
• By June, however, buyer activity slowed due to frontloaded purchases and adequate inventory levels, weakening import volumes.
• A sharp fall in global container rates and lower FOB offers from China in June reduced European import costs and softened product price forecast expectations.
• Price competition among Chinese exporters intensified in June, with European importers leveraging falling logistics and input costs.
• In July 2025, the Price Index could rise modestly, as some buyers resume procurement to rebuild stocks after June’s market correction.
For the Quarter Ending March 2025
North America
In Q1 2025, Vitamin B1-In prices in the U.S. saw notable fluctuations, mirroring broader market instability. January experienced a dip in prices, driven by weakening consumer confidence and overall economic uncertainty. The cold winter months, including significant snowstorms and freezing temperatures, disrupted logistics, slowing down transportation and procurement. Additionally, stockpiling before anticipated tariff impositions and the Chinese Lunar New Year caused a temporary oversupply, leading to the price decrease.
In February, prices rebounded, rising in response to the 10% tariff placed on Chinese imports. Buyers scrambled to secure supplies in anticipation of additional tariff increases, causing supply chain strains and driving up costs. While logistics improved post-Lunar New Year, the rush to secure inventory continued, further pushing prices higher.
By March, prices maintained their upward trajectory as increased buying activity followed President Trump’s March 4 tariff actions on key trading partners. This, coupled with fears of further price hikes, led market participants to frontload procurement, exacerbating the price increase. The slight easing of consumer inflation helped stabilize sentiment, ensuring that the upward trend in prices persisted.
Overall, Vitamin B1-In prices in the U.S. during Q1 2025 were marked by significant volatility, with fluctuating demand, tariff uncertainties, and logistical disruptions all contributing to the market dynamics.
Asia Pacific
In Q1 2025, Vitamin B1 prices in China showed significant volatility due to supply and demand dynamics. In January, prices declined primarily due to weak demand from key sectors like animal feed, food fortification, and dietary supplements. An oversupply and the appreciation of the Chinese yuan against the U.S. dollar worsened export conditions, prompting delays in purchases. The Lunar New Year also resulted in reduced market activity, with many buyers having stocked up in advance. In February, prices saw a moderate increase, fueled by supply constraints and steady demand, despite disruptions caused by the Lunar New Year holidays. Manufacturing slowdowns and pre-holiday inventory depletion led to shortages, while U.S. tariffs drove manufacturers to focus on international markets, reducing domestic supply. March saw a notable price increase as demand surged, particularly from foreign buyers fearing trade disruptions and from the domestic market amid restocking efforts. While manufacturing resumed, output growth couldn't match the heightened demand, further tightening supply. Robust demand from healthcare and nutraceutical sectors added pressure, driving prices higher and exacerbating the supply-demand imbalance.
Europe
In Q1 2025, Vitamin B1 prices in Europe experienced notable volatility, shaped by a mix of supply disruptions, rising production costs, and shifts in demand. In January, prices initially saw a decline due to weaker market sentiment, exacerbated by geopolitical concerns and economic slowdowns in key European markets. The ongoing energy crisis also impacted production costs, leading to a cautious outlook for Vitamin B1.
As the quarter progressed into February, a recovery trend began, driven by improved demand from the food and beverage sectors, where Vitamin B1 is essential for fortification. Despite continued logistical challenges, such as transportation delays and high freight costs, manufacturers found themselves securing larger quantities of Vitamin B1 in anticipation of rising prices. By March, a more substantial price increase was observed as raw material shortages and continued supply chain bottlenecks intensified. Producers were under pressure to raise prices to cover higher operational costs, and steady demand for Vitamin B1 in pharmaceuticals and animal feed sectors supported market stability.
Overall, Vitamin B1 prices in Europe saw a moderate rise by the end of Q1 2025. Supply chain challenges and increased demand for fortified products ensured a generally bullish outlook for the upcoming months.
For the Quarter Ending December 2024
North America
In Q4 2024, Vitamin B1 prices in the USA experienced a consistent upward trend, influenced by a mix of market forces and external developments. In October, a surge in demand from key sectors, supported by increased consumer confidence following Federal Reserve rate cuts, led to greater competition for limited supply. Concurrently, supply chain disruptions, particularly labor strikes at East and Gulf Coast ports, intensified logistical challenges, causing buyers to prioritize shipments through the West Coast in an effort to secure stock.
November saw continued price increases, with consumer confidence reaching its highest level in 16 months. Anticipation of potential supply disruptions during the holiday season prompted proactive purchasing, further pushing prices higher. Concerns about an upcoming mid-January labor strike and the possibility of rising tariffs also spurred early buying activity.
By December, the market remained under pressure, as sustained demand and stockpiling due to fears of an International Longshoremen’s Association (ILA) strike and substantial tariff hikes on Chinese imports drove prices up. Additionally, the easing of interest rates provided further upward momentum. Throughout the quarter, the combination of market uncertainty, strategic buying, and ongoing supply chain issues played a key role in the steady increase in Vitamin B1 prices.
APAC
In Q4 2024, Vitamin B1 prices in China experienced a notable upward trend, driven by several interrelated factors. October saw an increase in prices, fueled by a rebound in China’s manufacturing sector, spurred by government stimulus measures and improving demand both domestically and internationally. The depreciation of the yuan further boosted export competitiveness, enhancing foreign demand. In November, the continued expansion of factory activity, driven by rising new orders, including from international markets, led to higher prices. Additionally, increased input costs and a weaker yuan placed further pressure on prices. December saw a significant rise, supported by strong demand from sectors like nutraceuticals, pharmaceuticals, and animal feed, along with stockpiling before the Lunar New Year holiday. This was compounded by heightened export activity as foreign buyers sought to secure supplies ahead of factory closures. Overall, the combination of robust domestic and export demand, economic factors, and supply chain adjustments contributed to the consistent price increases across Q4. By the end of Q4, Vitamin B1 was priced at USD 29000 per metric ton in China.
Europe
In Q4 2024, Vitamin B1 prices in Germany experienced a noticeable upward trend, driven by a variety of factors. October saw a rise in prices, fueled by a combination of improving business sentiment and the European Central Bank's decision to lower interest rates. This sparked optimism and bolstered consumer confidence, leading to increased demand. At the same time, businesses began building up inventories in anticipation of slower sales during the upcoming holiday season, adding further pressure on prices. In November, prices continued to climb due to a surge in demand, particularly from the nutraceuticals and healthcare sectors. Suppliers, anticipating the busy holiday period, kept stocking inventories, which intensified the upward price movement. Compounding this was the weaker euro, which made imports more expensive, as well as rising freight costs from higher shipping rates, both of which contributed to increasing overall prices. By December, the trend persisted, with steady demand from key industries. Moreover, congestion at European ports and the continued effects of the weak euro added logistical challenges, further strained supply chain and pushed prices higher. As the quarter drew to a close, it was clear that supply-side constraints, along with strong and sustained demand, played a crucial role in driving Vitamin B1 prices upwards throughout Q4.
