For the Quarter Ending September 2025
North America
• In USA, Vitamin B12 Price Index fell 7.04% quarter-over-quarter due to surplus and weak demand.
• The average Vitamin B12 price for the quarter was approximately USD 1432583.33/MT delivered CFR Los Angeles.
• Vitamin B12 Spot Price tightened as imports rose and exporter offers moderated in late summer.
• Vitamin B12 Price Forecast suggests mild firmness as buyers restock for winter production campaigns ahead.
• Vitamin B12 Production Cost Trend remained stable given steady feedstock availability and continuous biofermentation operations.
• Vitamin B12 Demand Outlook improved late September as supplement offtake rose while volumes stayed moderate.
• Vitamin B12 Price Index reflected smooth ports and sourcing, enabling importers to press offers lower.
• Inventory accumulation and competitive export offers pressured spot markets while selective restocking limited further downside.
Why did the price of Vitamin B12 change in September 2025 in North America?
• Exporter offers declined as global availability increased, directly reducing landed costs for US importers significantly.
• Downstream sectors held elevated inventories, reducing procurement urgency and amplifying price pressure during early September.
• Logistics remained frictionless and feedstock availability stable, enabling imports and preventing supply driven price support.
APAC
• In China, the Vitamin B12 Price Index fell by 4.50% quarter-over-quarter, reflecting oversupply, muted demand.
• The average Vitamin B12 price for the quarter was approximately USD 1408666/MT, FOB Shanghai base.
• Vitamin B12 Spot Price showed only limited weekly rebounds as buyers pursued cautious replenishment schedules.
• The Vitamin B12 Price Forecast anticipates modest firmness as autumn restocking supports measured demand upticks.
• Vitamin B12 Production Cost Trend remained stable from abundant feedstock availability and steady energy tariffs.
• The Vitamin B12 Demand Outlook is cautiously constructive as nutraceutical and feed sectors resume replenishment.
• High downstream inventories weakened the Vitamin B12 Price Index, while selective restocking tightened spot availability.
• Major producers ran steady rates, avoiding shortages and keeping export allocations disciplined amid subdued demand.
Why did the price of Vitamin B12 change in September 2025 in APAC?
• Sustained full operating rates, global production kept supply ample, exerting downside pressure on Price Index.
• Elevated downstream inventories and delayed procurement reduced buying, limiting upward movement in Vitamin B12 exports.
• Stable feedstock, smooth logistics contained Production Cost Trend, removing cost support for Vitamin B12 prices.
Europe
• In Germany, the Vitamin B12 Price Index fell by 6.04% quarter-over-quarter, driven by oversupply, cautious buying.
• The average Vitamin B12 price for the quarter was approximately USD 1431583.33/MT, assessed across Hamburg weeks.
• Vitamin B12 Spot Price eased as spot offers softened amid ample exporter availability and balanced inventories.
• Vitamin B12 Price Forecast indicates modest recovery into autumn as buyers selectively replenish stocks for production.
• Vitamin B12 Production Cost Trend remained stable as feedstock supplies and fermentation inputs maintained steady pricing.
• Vitamin B12 Demand Outlook shows strength from nutraceuticals and feed premix, while pharma procurement stayed cautious.
• Inventory builds and smooth logistics pressured the Vitamin B12 Price Index, limiting upside despite intermittent buying.
• Major exporters operated reliably, supporting healthy shipments while exporters adjusted offers to remain competitive in Q3.
Why did the price of Vitamin B12 change in September 2025 in Europe?
• Uninterrupted exporter production created oversupply, lowering landed costs and encouraging importers to delay large purchases.
• High distributor inventories and weak pharma procurement reduced urgency, suppressing Vitamin B12 Price Index gains.
• Stable freight and feedstock availability limited cost-driven upside, leaving price moves primarily demand-driven in September.
For the Quarter Ending June 2025
North America
• The latest Vitamin B12 Spot Price Index in North America stood at USD 1,463,000 per metric ton by the end of June 2025. It reflected a 0.34% dip that was driven by normalized pharmaceutical procurement and strategic inventory positioning.
• Why did the price change in July 2025?
The Vitamin B12 Spot Price in North America declined marginally in July 2025 as subdued procurement behaviour and balanced inventory levels persisted. The lack of new demand with softened export offers from China ensured no upward momentum in price trend post Q2.
• Steady imports from China and India continued without any supply chain disruptions which allowed downstream users to maintain operational stocks, thereby keeping the Vitamin B12 Production Cost Trend neutral during Q2.
• Downstream procurement across pharmaceuticals, fortified food and dietary supplements remained consistent, with buyers limiting purchases to operational needs due to ongoing tariff-related caution, anchoring the Vitamin B12 Demand Outlook in a restrained posture.
• Buyers refrained from speculative restocking during Q2 2025, preferring drawdowns on Q1 inventory. This contributed to a balanced price environment and reaffirmed the softening pattern in the Vitamin B12 Price Forecast.
• No logistic disruptions were reported across major ports like Los Angeles, ensuring a well-functioning Vitamin B12 supply chain, which reinforced stable market sentiment through April, May, and June.
• Competitive export offers and smooth deliveries allowed buyers to negotiate favourably, keeping costs under control and helping stabilize the Vitamin B12 Spot Price throughout the quarter.
• Despite mild recovery in demand, the market lacked bullish indicators due to absence of new product launches or seasonal triggers, holding the Vitamin B12 Demand Outlook in equilibrium.
• Exporters maintained consistent output with no interruptions in production schedules, ensuring that the Vitamin B12 Production Cost Trend remained unchanged throughout the quarter.
Asia Pacific
• The Vitamin B12 Spot Price Index in APAC was recorded at USD 1,445,000 per metric ton by late June 2025. The marginal drop reflected strong supply continuity, stable manufacturing and muted procurement enthusiasm.
• Why did the price change in July 2025?
The Vitamin B12 Spot Price in Asia Pacific declined slightly in July 2025 as exporters reduced offers modestly to maintain competitiveness amid steady but unspectacular demand. The adjustment followed Q2’s neutral momentum, reinforcing a tempered Vitamin B12 Price Forecast.
• Production facilities in China maintained consistent operational flow without any disruptions which kept the Vitamin B12 Production Cost Trend stable.
• End-user procurement across pharma, nutraceuticals and health supplements remained steady throughout Q2, sustaining a predictable Vitamin B12 Demand Outlook aligned with seasonal trends.
• Buyers placed only replenishment-based orders as their existing inventory levels remained balanced, leading to restrained spot activity and limited influence on the overall Vitamin B12 Price Forecast.
• The export supply chain from Shanghai and other key ports functioned without logistical challenges during Q2, allowing stable outbound movement and preventing any volatility in the Vitamin B12 Spot Price.
• Despite global economic uncertainties, demand from APAC markets did not deviate from forecasted consumption trends, maintaining a neutral to slightly bearish Vitamin B12 Demand Outlook.
• Routine procurement from pharmaceutical and medical segments sustained production cycles without overburdening supplier stocks, reflecting a flat Vitamin B12 Production Cost Trend.
• The absence of major health campaigns or sectoral stimulus in Q2 kept buyer sentiment cautious, which contributed to the subdued market movement in the Vitamin B12 Spot Price Index.
Europe
• The Vitamin B12 Spot Price Index in Europe settled at USD 1,462,000 per metric ton during late June 2025, registering a minor 0.34% drop influenced by softened global offers and subdued domestic restocking needs.
• Why did the price change in July 2025?
In Europe, the Vitamin B12 Spot Price saw a mild decrease in July 2025 due to persistent inventory sufficiency, cautious downstream demand, and continued softening from export hubs. This matched the sentiment observed at the end of Q2, contributing to a neutral-to-downward Vitamin B12 Price Forecast.
• Downstream industries across Germany and broader Europe maintained disciplined stock control and sourced only operational volumes, placing the Vitamin B12 Demand Outlook on a low-growth path in Q2.
• Continuous inbound flows from China and India allowed German importers to negotiate minor price reliefs while ensuring stable availability, a trend that underpinned the July dip in the Vitamin B12 Spot Price.
• Procurement activity in pharmaceutical, functional food, and supplement sectors remained steady but lacked volume-driven excitement, resulting in a stagnant Vitamin B12 Price Forecast.
• European buyers showed reluctance toward bulk forward buying due to well-managed Q1 inventory, which directly contributed to the minimal price movement and kept the Vitamin B12 Production Cost Trend unchanged.
• Exporters held back from aggressive pricing despite soft demand signals, maintaining measured dispatch volumes to sustain global pricing discipline across Q2.
• Port operations and logistics in Germany ran efficiently with no delays or congestion, ensuring seamless Vitamin B12 distribution that supported a neutral trend in the Vitamin B12 Spot Price Index.
• Overall market conditions remained non-disruptive through April to June, and with no significant supply-side push or demand-side pull, the Vitamin B12 Demand Outlook remained stable across Europe.
For the Quarter Ending March 2025
North America
In North America, the Vitamin B12 market recorded a steady decline in prices during the first quarter of 2025. The quarterly average of Cyanocobalamin prices showed a fall of around 3.40% in first quarter of 2025 from previous quarter. This decrease is a result of subdued demand from the downstream pharmaceuticals and nutraceuticals sectors.
Many Vitamin B12 distributors and suppliers in the region kept inventory levels well-managed. Buyers were cautious as procurement remained strategic amid the seasonal transition from winter to spring. The market also saw some price pressure due to tariff adjustments on select imported pharmaceutical ingredients. This factor added to the slower market activity.
The overall Vitamin B12 market tone was quiet with cobalamin distributors closely tracking demand trends. Nutraceutical producers reduced new orders during the early part of the year and focused more on clearing existing stocks. While logistics remained smooth during the first quarter of 2025, the purchasing decisions remained conservative. The combination of these factors contributed to the soft pricing. A slight improvement in downstream enquiries was noticed by March-end, hinting at some recovery as seasonal production cycles of Vitamin B12 approached.
Asia Pacific
The Vitamin B12 market in the Asia Pacific region experienced a moderate price decline during the first quarter of 2025. The quarterly average price dropped by 2.69% between the previous quarter and the first quarter of 2025. The market tone was influenced by the Lunar New Year holiday, which typically slows production activity in China — a major supplier within the APAC region.
This seasonal disruption paired with soft demand from the pharmaceutical and nutraceutical industries resulted in shaping the market in downward direction. Many Vitamin B12 suppliers operated with controlled inventory levels as procurement remained selective. Distributors in countries like India, South Korea and Vietnam maintained a cautious buying approach.
The overall Cyanocobalamin market in Asia Pacific reflected stable logistics conditions, though weaker downstream demand weighed on prices. Seasonal transition also played a part in delaying bulk purchases. By late March, slight improvements in new enquiries suggested that buyers were preparing for the next production cycle. This helped steady prices toward the end of the first quarter of 2025.
Europe
The European Vitamin B12 market followed a similar price trend to other global regions in the first quarter of 2025 and the quarterly average price slipped by 3.69% between previous quarter and the first quarter of 2025. Market sentiment stayed cautious as demand from downstream pharmaceuticals, food and beverage, and nutraceutical sectors remained soft.
Many Vitamin B12 suppliers in the region managed their inventories carefully. Buyers across Germany, France and the Netherlands showed limited procurement activity and preferred to consume existing stock. The overall Vitamin B12 market in Europe mirrored global patterns, as consistent supplies from exporting regions like APAC, added quiet pressure on regional prices.
Seasonal transition also played a role in shaping the procurement pace. Production schedules in the nutraceutical and personal care industries had not yet fully gained momentum, as the transition from colder to milder weather conditions was still underway. The logistics operations ran smoothly and there was no major supply disruptions reported. By March-end, some Cyanocobalamin distributors observed a gradual rise in enquiries which helped ease the declining price pressure marginally.
For the Quarter Ending December 2024
North America
During Q4 2024, Vitamin B12 import prices in North America displayed mixed movement. After rising to $1,827,800 per MT in November, prices subsequently fell to $1,782,000 per MT CFR Los Angeles in December 2024. These price dynamics emerged from several factors. Limited inventory positions and enhanced demand from pharmaceutical and nutraceutical industries initially supported higher prices. Additionally, US importers had built up strategic stocks ahead of China's Golden Week holiday. However, post-holiday supply chain disruptions impacted export flows to US destinations, contributing to the later price decline.
In Q4 2024, port infrastructure constraints at Shanghai and Los Angeles impacted freight rates and lead times, while labor disputes, including the ILA strike, affected East and Gulf Coast operations. Market participants accelerated procurement due to anticipated U.S. tariff changes, maintaining high TEU volumes particularly from Chinese imports. However, December brought a market reversal as domestic suppliers implemented destocking initiatives while Chinese export prices softened, favoring US buyers. This, on one hand, created favorable arbitrage opportunities for U.S. importers, supported by Chinese suppliers' competitive pricing strategies ahead of their holiday season.
The market followed typical seasonal weakness as the year 2024 ended and the quarter concluded. Despite December's price decline, robust end-user demand persisted throughout the quarter, especially in pharmaceutical and nutraceutical applications. The sustained consumption across these sectors provided underlying market support, even as prices adjusted to various supply-side pressures and seasonal factors. This combination created a complex environment where initial supply constraints and logistical challenges drove prices higher before giving way to more favorable conditions.
APAC
In Q4 2024, Vitamin B12 prices in APAC exhibited mixed movement, rising to $1,614,600 per MT in China during November before declining to $1,588,750 per MT FOB Shanghai in December. The quarter began with the Chinese Golden Week holiday in October, temporarily pausing market activities. International buyers had secured supplies through pre-emptive procurement, helping maintain supply chain stability despite the production halt. Early November marked a significant upward trend in China's nutraceutical market, establishing a strong seller's market. This appreciation was driven by robust post-holiday demand, particularly from Western markets, which emerged later than usual this year. The positive market conditions were further supported by declining freight rates, allowing manufacturers to capitalize on the combination of strong procurement activities and improved logistics costs.
December brought a market shift as systematic destocking initiatives were implemented across the supply chain. Manufacturers and suppliers actively adjusted their inventory positions ahead of the holiday season, creating downward price pressure. Despite this price moderation, demand fundamentals remained resilient, with sustained procurement patterns across both domestic and international channels. The price trajectory was primarily influenced by supply-side factors rather than demand constraints, suggesting the adjustments were more reflective of inventory optimization strategies than structural market weakness. This created strategic buying opportunities during the transitional period.
Europe
In Q4 2024, Vitamin B12 import prices in Germany showed mixed movement, rising to $1,762,000 per MT in November before declining to $1,713,500 per MT CFR Hamburg in December. The quarter began with modest price increases in October, driven by surging demand, extended delivery times from Asian suppliers, and persistent port bottlenecks. German industry players had proactively stocked up ahead of China's Golden Week, while steady consumption from pharmaceutical and nutraceutical sectors-maintained market stability.
November saw further price appreciation, primarily due to surging end-user demand and rising prices in China, compelling German buyers to procure at higher costs. The constrained market environment enabled merchants to implement price hikes and maintain stronger profit margins, creating a distinct sellers' market dynamic.
However, December brought a notable price decline as European distributors actively reduced inventory levels while Chinese exporters lowered their prices. This created an attractive buying opportunity, prompting increased purchases from Asian suppliers. Chinese manufacturers offered competitive rates ahead of their holiday period, though market fundamentals remained healthy with steady consumption in both pharmaceutical and nutraceutical sectors. The price moderation reflected strategic inventory management rather than changes in underlying demand patterns.
