For the Quarter Ending March 2024
North America
In the first quarter of 2024, the North American Vitamin B9 market saw a balanced dynamic between demand and supply, accompanied by a noticeable increase in prices. Vitamin B9 prices skyrocketed from $44,450/mt in January to $45,200/mt FOB New Jersey by March. However, the market faced challenges such as limited product availability, escalating freight costs, port bottlenecks, and reduced imports from Asia. In response, U.S. authorities teamed up with industry leaders to improve real-time monitoring of freight movements, particularly focusing on nutraceutical shipments from China.
The first quarter of 2024 combinedly presented a complex scenario for the North American Vitamin B9 market, grappling with supply chain disruptions and ongoing shipping issues. These challenges led to a Vitamin B9 shortage, pushing prices higher. Nevertheless, local suppliers managed to take advantage of the situation by raising prices, supported by limited imports from Asia and increased consumer demand. China, being a major producer, and the U.S., a primary importer, experienced shipment delays during the Chinese Lunar New Year holidays in mid-February. Despite expectations of a demand surge for nutraceuticals, including Vitamin B9, following the post-holiday market rebound in China, the anticipated increase in the U.S. did not materialize as forecasted by industry analysts. Nonetheless, demand remained robust in the U.S. throughout the quarter, fueled by new inquiries and steady downstream procurement.
The end of 2023 saw supply chain and trade disruptions due to a security crisis in the Red Sea, resulting in substantial increases in freight charges. These elevated costs persisted until the end of Q1, impacting various trade routes and causing congestion at U.S. ports on both coasts, as well as disruptions in the Panama Canal, which affected commodity prices.
APAC
During the first quarter of 2024, the Vitamin B9 market in the Asia-Pacific (APAC) region, particularly in China, experienced modest growth. Prices in China remained stagnant throughout the quarter with values assessing at $24050 per MT FOB Shanghai in both January and March. This consistency in trend through March marked a notable improvement from the challenges encountered in the fourth quarter of 2023, which included subdued demand from end-users, limited new inquiries, and excess inventory.
From mid-January 2024 onward, demand began to strengthen steadily and sustained momentum through March, signaling a recovery in market sentiment. The first quarter of 2024 demonstrated significant improvement with rising prices, reflecting a more balanced relationship between supply and demand. This upward trajectory allowed participants in the Chinese market to maintain healthy profit margins throughout the quarter. However, growth slowed in March, with prices experiencing a slight decline. Even during the Lunar Chinese New Year holidays, the domestic Vitamin B9 market remained resilient, supported by robust manufacturing activities leading up to the holiday and the availability of fresh inventory. Additionally, the international demand for Vitamin B9, especially from the pharmaceutical and other sectors, added complexity to the supply-demand dynamics, influencing market trends later.
Despite facing challenges such as declining consumer confidence, deflationary pressures, youth unemployment, reduced exports, and a decrease in foreign investment, China's manufacturing output exhibited resilience. The domestic Vitamin B9 market in China experienced significant improvements, characterized by an increase in demand and growth in manufacturing output.
Europe
During the first quarter of 2024, the Vitamin B9 market in Europe faced substantial challenges, mainly due to disruptions in trade routes and cautious consumer spending. The imbalance between supply and demand led to price fluctuations mainly in Germany. Additionally, ongoing geopolitical tensions and economic uncertainties contributed to consumer reluctance to spend. The European Central Bank's decision to maintain high interest rates further intensified the difficult economic conditions of the region. Persistent disturbances in the Red Sea caused trade disruptions, resulting in shipment delays and increased freight costs, which impacted market prices throughout the quarter. In January, prices in the German market skyrocketed to $29,600/mt CFR Hamburg, climbing further to $29,700/mt by March. However, they slightly dipped to $29,300/mt in February.
At the onset of Q1 2024, heightened demand from sectors such as nutraceuticals and pharmaceuticals within Germany exacerbated port bottlenecks and trade scenario, particularly from Asia, notably China. With limited inventory available amidst increased demand, sellers raised their price quotations and capitalized on this momentum throughout the quarter. The Chinese Lunar New Year celebrations in mid-February further bolstered this upward trend in prices, as many Chinese suppliers adjusted their prices before the holiday break. Concurrently, persistent disruptions in the Red Sea continued to impact trade routes between Asia and Europe, leading to elevated freight costs and influencing the pricing of Vitamin B9 in Germany. Consequently, the German vitamin market witnessed significant price fluctuations during this period. Importers in Germany found themselves contending with rising costs due to the heightened prices of Vitamin B9 in China, exacerbated by disruptions in trade that affected their supply chains.
For the Quarter Ending December 2023
North America
During the fourth quarter of 2023, the North American market for Vitamin B9 experienced a slight depreciation in the pricing trajectory, attributed to weakened demand from end-users in both the nutraceutical and pharmaceutical sectors. The market was marked by instability and an oversupply of Vitamin B9. Despite the challenges of rising energy costs and fluctuating pricing, the Vitamin B9 market in the USA remained cautiously optimistic, particularly towards the end of the quarter.
At the beginning of the quarter, Vitamin B9 prices stood at $46,500/mt and declined to $43,660/mt FOB New Jersey by the end. Analysts noted limited upward momentum in various vitamins, with many remaining in a consolidation phase. Import volumes during Q4 2023 exceeded those of Q4 2022, indicating that retailers may have finished destocking and were gearing up for the holiday season in December.
As the quarter concluded, the American economy in 2023 was described as "miraculous." Despite concerns about an impending recession and managing inflation without significant job losses, the US economy not only averted recession but also demonstrated accelerated growth overall. In the final weeks of December, increased consumer spending in the U.S. positively impacted the Vitamin B9 industry, leading to price increases.
APAC
In the fourth quarter of 2023, the Vitamin B9 market in the APAC region displayed varied trends, with certain products witnessing price hikes while others experienced declines. Coming to the market for Vitamin B9, its pricing chart remained stable during Q4 2023. Increased raw material costs and export pricing contributed to elevated Vitamin B9 prices across the Asia Pacific region, including China and India. However, demand from the nutraceutical and pharmaceutical sectors decreased, particularly in November, causing an imbalance in equilibrium.
Conversely, the nutraceutical market in India expanded due to improved economic conditions, heightened production levels, and increased new business inflows. In China, weak international demand led to substantial price reductions despite heightened production. The absence of new inquiries from domestic or foreign markets further emphasized the decline in Vitamin B9 offtakes in China's end-user pharmaceutical and nutraceutical sectors. By December, the price of Vitamin B9 FOB Shanghai in China for Q4 2023 stood at USD 23,950/MT. China's economy garnered attention in December, with improvements in PMI and rising consumer confidence. Throughout the year, China's nutraceutical industry experienced mixed sentiments, with some product markets plummeting while others rebounded. Notably, the Vitamin B9 market showcased positive growth, with its price trend appreciating and ending the year on a promising note.
Europe
In the fourth quarter of 2023, the European Vitamin B9 market encountered various challenges reflective of trends seen in China and the US. Prices for Vitamin B9 experienced a moderate decline during the quarter, primarily due to a substantial drop in end-user demand from the food and beverage (F&B), pharmaceutical, and nutraceutical sectors, driven by sufficient stock levels. This decline in demand resulted in fewer price negotiations and limited new inquiries from market participants. Additionally, the market faced pressure from high supply levels, with domestic players maintaining significant inventory to meet demand. The decrease in energy prices also contributed to the overall downward price trend. The decline in costs can be attributed to reduced end-user demand and ample availability of Vitamin B9 in the domestic market. However, by December, prices were recorded at USD 27,600/MT CFR Hamburg, indicating momentum in the German market at the quarter's end. A significant factor driving this price increase was the suspension of Vitamin B9 quotations in China, a major exporter, leading to higher prices. Consequently, German importers faced elevated costs for purchasing Vitamin B9 supplements, stimulating growth in the local market.
For the Quarter Ending September 2023
North America
The FOB New Jersey price values for Vitamin B9 increased during the time frame, ending the third quarter of 2023 on an upbeat note. Prior to this, the values were $47150/mt in July and increased to $48000/mt in September. Due to the continuing increase in demand for Vitamin B9 from the end-user pharmaceutical and nutraceutical industries, the domestic market for this nutraceutical swung upward from the second half of the quarter. The primary driver of the positive price trend of vitamin B9 in the United States is, by far, the low to modest inventory levels, which simply prompted the sellers to raise their quotations by margins each month. The US dollar's strengthening relative to the Yuan caused swings in currency, which led to an increase in the cost of importing nutraceuticals in the second part of the quarter. A reversal of the US economy resulted in a little deceleration in inflation during the third quarter of 2023, but market players were nonetheless alerted by the Fed Reserve's hike in interest rates. In the US, warehouse usage, inventory, and storage costs all increased dramatically starting in the first week of July. As a result, the cost of inventory and storage skyrocketed, driving up the price of goods like Vitamin B9. Furthermore, Chinese merchants increased their price discussions ahead of China's vacations (golden week and mid-autumn) at the end of September in response to the increasing demand from abroad, especially in the US, which caused the price quotations to rise even further.
Asia Pacific
The third quarter of 2023 saw an abrupt shift in the price trajectory for Vitamin B9, with prices jumping from $25500/mt to $26440/mt between July and September. China's price increase for vitamin B9 this quarter has been caused by a number of variables, but the two most important ones are the currency—a stronger Yuan (RMB) relative to the USD—and higher local demand from end-user Nutra and Pharma businesses. With rising deflation, high youth unemployment, and weak foreign demand, the world's second-largest economy grew more slowly than expected in the first half of 2023, lost momentum in the second half of the year, and began the third quarter of 2023 on an unfavorable note. Throughout the period, manufacturing production has remained constant, and market players who have met overall demand have maintained moderate to low levels of inventory. Due to an increase in demand and inquiries, there was a little boost in both freight and manufacturing in the latter weeks of September, just before the Golden Week vacations.
Europe
In Europe, Vitamin B9 prices started the third quarter of 2023 on a negative note in Germany's domestic market at $27950/mt. However, in September, negotiations increased to $28700/mt, ending the quarter on a positive note. As things began to calm down and the economy began to strengthen in July, the German suppliers of vitamin B9 began placing large orders to replenish their supply and meet the growing demand across the country. Still, as the third quarter got underway, industry analysts said, problems remained in the German manufacturing sector. The import of Vitamin B9 from Asia, particularly China, remained positive throughout the quarter, owing to the fresh inquiries from the local pharmaceutical and nutraceutical industries. Since the strong US dollar has caused domestic players to pay high prices when importing goods from China, the depreciation of the currency (the Euro) has also played a significant role in Germany's price increase. Market investors continued to adopt a wait-and-see attitude as the main economic problems impeding development remained Germany's subpar manufacturing climate and high inflation.
For the Quarter Ending June 2023
North America
During the second quarter of 2023, the domestic market for Vitamin B9 in North America showed a declining price trend. Negotiated FOB New Jersey prices fell from $51410/mt to $49800/mt between April and June 2023, a decrease of 3.1% over the quarter. Demand for Vitamin B9 from end-users in the pharmaceutical and nutraceutical industries was lower across the US due to cautious stock levels on their shelves. Inflation in the country has declined in line with energy prices. However, despite falling energy prices, there is still significant underlying inflation, well above the Federal Reserve's target, according to industry experts. Experts also believe that the decline in inflation due to easing supply chain pressures is temporary. Despite the mixed sentiment on Vitamin prices, the country's nutraceuticals market has shown mixed market patterns. The ongoing strength of the labor market continues to support economic growth by pushing up wages in the quarter. At the same time, this will continue to fuel inflation, most likely leading the Fed to raise interest rates again in July. However, the state of the US economy is still unknown, and market players in the nutraceutical and food industries continue to adopt a wait-and-see approach.
Asia Pacific
In Q2 2023, the Asia-Pacific Vitamin B9 market demonstrated deteriorating price trends. The price negotiations for FOB Shanghai, China, fell from $27,950 per tonne to $26,200 per tonne between April and June 2023. This price decline became quite adamant from the H1 of the second quarter of 2023, as demand for Vitamin B9 from end-users in the pharmaceutical and nutraceutical sectors declined domestically and internationally. Due to lower demand and inquiries from both regional and international consumers, Chinese Vitamin B9 producers were compelled to sell the product at lower margins. As per the Stats, China's manufacturing activity contracted for a third consecutive month in June, albeit at a slower pace, as pressure mounts on the authorities to unleash more stimulus to support the economy, which is flattening out after an initially strong post-COVID rebound in the first quarter. The June PMI also reflected a number of imbalances and weaknesses, such as the continued contraction in domestic and external demand, an accelerated slowdown in small business activity, and continued mounting pressures on the private sector.
Europe
The German Vitamin B9 market displayed bearish sentiments during the second quarter of 2023, with price discussions for CFR Hamburg falling slightly from USD 28980 per tonne to USD 28500 per tonne. Gas prices in Europe fell in April to their lowest levels since the start of the energy crisis, increasing optimism for a stronger economic recovery, which undoubtedly improved trade from Asia. However, price negotiations eased during the quarter due to domestic suppliers holding more than sufficient stocks at a time of low demand. With the slight improvement in European economic conditions, the European Union (EU) has plans to reduce its dependence on Chinese imports by boosting the country's manufacturing industry. To avoid potential future shortages, they have been stockpiling goods in warehouses. This has led them to lower their price margins later in the second quarter in order to reduce their inventories. Inflation in Germany rose again in June by more than 6%. However, the impact on its dietary supplement industry remains to come.
For the Quarter Ending March 2023
North America
The price trend for Vitamin B9 showed signs of stagnation throughout the first quarter of 2023, with prices in New Jersey settling at $50160 per MT in January and $50500 per MT in March, respectively. Following the market instability of the previous quarter, industry experts had projected that the pharmaceutical and nutraceuticals industries would continue to sail in choppy waters during the first quarter of 2023. However, continuous end-user demand and reasonable downstream provider inquiries were able to keep the market's dynamics under control. The first week of January's relaxation of China's zero-covid restriction had a positive impact on the first half of the quarter as the supply chain and trade remained robust, resulting in a decrease in freight costs. Domestic traders cut manufacturing orders by as much as 40% in the second half of Q1 due to a decline in local consumer demand and record-high warehouse stocks.
Asia Pacific
In the first week of January, China's decision to lift the strict COVID-19 restrictions gave the region's trillion-dollar economy—which had suffered greatly over the previous four years—new life. As a result, China's first quarter of 2023 ended up being rather beneficial. However, the domestic Chinese market's FOB Shanghai pricing pattern for the first quarter of 2023 was favorable, with prices rising from $27220/MT in January to $27720/MT in March. In January, after a week-long Lunar Holiday, the price of vitamin B9 in the domestic market for nutraceuticals and pharmaceuticals experienced a roll-over sentiment for two consecutive weeks. Technically speaking, the markets began to perform well once they returned from vacation, with more local and international orders and shipments, but gradually, events took an unforeseen turn.
Europe
Due to an uptick in orders and shipments from both domestic and foreign markets, the pharmaceutical and nutraceutical industries in Europe had a successful first quarter. From $28450 per MT in January 2023 to $28910 per MT in March 2023, respectively, Vitamin B9 prices increased considerably in the first quarter of 2023. For most of the quarter, participants in the local market noticed advantageous arbitrage since the forecast for supply and demand appeared promising. The unexpected reopening of China's covid and the lengthy conflict between Russia and Ukraine lowered inflation pressures, while the European market displayed optimistic indicators. This made room for a swift recovery in activity, which was further aided by an improvement in end-user demand from both producers and suppliers. In the second half of the quarter, the cost of shipping containers between Asia and Europe also dropped significantly to pre-pandemic levels or lower, illuminating a strong demand and supply dynamic.
For the Quarter Ending December 2022
North America
Due to the protracted unrest in the U.S. market, Vitamin B9 prices continued to fall in the fourth quarter of 2022, with FOB New Jersey prices decreasing from $54750/MT to $50290/MT from October to December. Due to the Golden Week vacations, imports from China were halted during the first week of October. As a result, many domestic retailers had to raise their price quotes to meet the ongoing demand. The tiebreakers, which included China's Covid lockdowns, Russia's conflict in Ukraine, rising U.S. inflation, and extreme weather, persisted in putting fragile supply chains in peril for the majority of the quarter. The U.S. supply chain gradually recovered in the second half of 2022 as the economy started to rebound, and the port of New Jersey on the east coast significantly decreased ship backlogs following a protracted port backlog. In November, prices began to decline throughout all U.S. supply chains, reducing inflationary pressures. Because of weaker shipping demand spurred on by slower consumer spending and a decline in manufacturing activity in December, the U.S. supply networks became more adaptive.
Asia Pacific
The domestic Vitamin B9 market in China showed signs of contraction during the fourth quarter of 2022, with FOB Shanghai negotiations falling from $31750/MT to $26600/MT from October to December. Due to the closure of industrial facilities during the first week of October for the Golden Week, China's manufacturing sector decreased at a slow rate and saw the lowest export orders. The market's possibilities of catching up to the modest rise achieved in some industries during the first half of Q4 were hindered by the range of contradicting signals that Chinese traders dealing with the return from the Golden Week holiday had to contend with. The Dual Control on Energy Consumption in China increased prices for a number of products in the second half of Q4 2022. Due to significant inventory, domestic manufacturers and suppliers were able to satisfy the whole domestic demand throughout the quarter. The administration changed its zero-covid regulations in response to protests and general turmoil in the nation, which once more placed the nation in a precarious position. At that time, Covid-19 cases began to show up in China's major manufacturing hubs, including Shanghai.
Europe
The fourth quarter of 2022 saw a consistent decline in the European Vitamin B9 market, with CFR Hamburg values plummeting to $28250/MT in December. Despite rising energy costs and bottlenecks in the supply chain, Germany's industrial production increased somewhat in October. The issues with COVID-19, as well as the circumstances in Russia and Ukraine, all continued to have a detrimental effect on output, nevertheless. Demand-wise, offtakes in the end-user industries continued to be favorable, while the pharmaceutical and nutraceutical industries continued to struggle due to the rising cost of raw materials and energy. Due to some breathing room, trade flows in Germany and the wider eurozone was higher in the second part of Q4 2022, but this did not mean that market fundamentals had become balanced.
For the Quarter Ending September 2022
North America
The domestic market for Vitamin B9 started the third quarter of 2022 on an upward note, with FOB New Jersey values assembling at $53100 per MT. However, this trend quickly reversed in the second half, and in September, it was settled at $51500 per MT. The companies that produce them were obliged to decrease prices as a result of the intermittent lockdowns in China, where the majority of nutraceutical products, including vitamin B9, are imported. This, in turn, led to a slight decline in demand in the US during the second half. The Biden administration aimed to lower inflation by removing some tariffs on imports from China as the two largest economies in the world battled congested supply chains and rising oil prices. The US imports were significantly reduced because of production facilities in China, many of which were shut down for maintenance during H2 of Q3, closing. This had a significant impact on the downward pricing trend in the domestic pharmaceutical and nutraceutical industries during the final weeks of Quarter 3.
Asia Pacific
The price trend for Vitamin B9 in the Asia Pacific market showcased a downward trajectory during the third quarter of 2022. Numerous factors, such as declining raw material costs, subdued consumer spending, and weak end-user sector demand, have contributed to this price trend. Key suppliers were only seen purchasing the items for immediate use during the first half, with FOB Shanghai prices settling at $37950/mt in July. This was due to the sluggish downstream demand and the lower-than-average offtakes. Following the extinguishing of COVID-19 flare-ups in a number of industrial hubs during the first half's finale, industry chains unexpectedly reopened, bringing back profits to industrial enterprises. However, certain vitamin production facilities performed maintenance in the final week of July following the reopening of the markets, which reduced the amount of Vitamin B9 that was widely available. Later, downstream demand in the domestic market became incredibly low, which caused prices to decline and settle at $33550 per MT in September.
Europe
The third quarter of 2022 saw a dip in sentiments on the German Vitamin B9 market, with values for CFR Hamburg, assessed at $38560/MT in July before falling even more in September at $33570/MT. During this quarter, Germany's logistics issues made a slowdown in the economy worse because transportation bottlenecks persisted. The situation in Europe was exacerbated by ongoing lockdowns in Chinese ports and the conflict in Russia and Ukraine. The second half of the third quarter saw domestic merchants lowering their pricing due to the low end-user pharmaceutical and nutraceutical company demand.
For the Quarter Ending June 2022
North America
The North American vitamin B9 market started the second quarter of 2022 with progressive outcomes, which fell in the second half of the quarter. The COVID suspension in China's commercial centers significantly hampered imports and was made worse by the US supply deficit. Because of the US's rising inflation, the problematic political situation in Russia and Ukraine, and the highly unpredictable oil prices, domestic traders and purchasers were concerned about high raw material prices throughout the quarter. Following the dramatic drop in oil prices in May, import, consumer, and production spending increased somewhat. Despite the Asian blockades, it appeared that China's major ports were receiving maritime cargo in June. Nevertheless, offtakes from the nutraceutical and pharmaceutical industries remained strong on the demand front.
Asia Pacific
The pricing trend for vitamin B9 in the Asia Pacific region during Q2 of 2022 revealed conflicting feelings as prices began to fall in the second half of the quarter due to the covid outbreak in the major provinces of China. Due to the opening of its factories and ports, China's domestic market saw a significant increase in the production of nutraceuticals during the first half of the quarter. The country's nutraceutical markets were affected in several ways by a spike in COVID-19 cases during the last week of April; thus, the Chinese authorities put important production facilities on lockdown. It became more challenging to convey the product to other markets due to the country's absurd Zero tolerance policy, which caused several cargo ships to become stuck at ports. In order to get rid of stocks before they deteriorated due to the high COVID tariffs, several firms were prepared to offer the items at a discount toward the end of the quarter. Throughout the quarter, the end-user industries' need for offtakes remained constant.
Europe
The Vitamin B9 market in the European region remained favorable throughout the second quarter of 2022, despite a little drop in pricing that began at the end of June. The conflict between Russia and Ukraine raised shipping costs and slowed commodities' flow into Europe, making it harder for exporting nations to conduct business. Throughout the entire quarter, demand from nutraceutical and pharmaceutical businesses remained constant. However, the suppliers had enough inventory to meet all domestic demand.
For the Quarter Ending March 2022
North America
The prices of Vitamin B9 remained strong and increased consistently throughout the first quarter of 2022 in the North American region. During H2, the increased demand for Vitamin B9 by consumers from the downstream pharmaceutical and nutraceutical industries coupled with price fluctuation of feed further influenced the price trend of the product. Increased offtakes in the domestic market rose the values of Vitamin B9 prominently in the mid of the quarter. Amid the prolonged supply disruptions and stabilised demand, the price settled at USD57810 per tonne on FOB basis in the USA by March 2022 in North America.
Asia Pacific
Throughout the first quarter of 2022, the values of vitamin B9 increased in the Asian region. In the Chinese domestic market, Vitamin B9 prices increased prominently during the first half of the quarter due to the closure of major pharmaceutical and nutraceutical manufacturing units caused by China's zero covid policy. In the latter half of Q1, the values remained firm in the Chinese market due to the uncertain supply of raw materials amid the disrupted supply chains. The prices of Vitamin B9 were accessed at USD 52910 per tonne on FOB basis in Qingdao, China, at the end of Q1 2022. However, in the Indian market, the prices remained stagnant during Q1 due to sluggish demand in the downstream pharma sector.
Europe
The values of Vitamin B9 remained firm and increased continuously in the European market during first quarter of 2022. During 1st half of Q1, the values increased significantly due to increased production costs in manufacturing Chinese industries. Continuously growing freight rates also influenced the prices of vitamin B9 in the European market. In March, amid the supply chain disruptions caused by the crisis in the East- European, the raw material supply was uncertain to the exporting Asian country, which gave a further boost to the values towards the end of the quarter. The FOB prices of Vitamin B9 in Germany were estimated at USD44850 per MT during the first month of Q1 2022.
For the Quarter Ending December 2021
North America
During the 4th quarter of 2021, the market of Vitamin B9 witnessed mixed sentiments across the North American region. The FOB New Jersey discussions for Vitamin B9 were settled at USD 51539 per MT in the week ending of December. The US domestic market sentiments remained stable in the month of November with comparatively less volatility in Vitamin B9 prices. The improved supply chain has been a key factor behind the price stability along with stagnancy in demand growth in Q4 2021. Several market players were seen taking a circumspect approach in their volume intakes, wary of market dynamics in the end week of November. The prices of Vitamin B9 are anticipated to remain rangebound in the first quarter of 2022.
Asia Pacific
The pricing trend of Vitamin B9 showcased an upward trajectory during the fourth quarter of 2021 in the Asia Pacific region. In China, the prices of Vitamin B9 witnessed a hike of 3.7% and escalated from USD 46142/MT to USD 47871/MT FOB Qingdao from October to December. The closure of 60 coal mines in the Shanxi province in October due to heavy rainfall curtailed the coal supplies amidst the ongoing power crunch ahead of the peak season, resulting in the increased prices of raw materials. The price trend improved in the second week of November due to the increased corn offers in the Chinese domestic market as the cold weather dropped the quantity of harvested corn output. The demand outlook exceeded due to a supply glut in the week ending of December after leading manufacturers NHU and ZMC declared force closure on government guidelines in order to contain the spread of COVID. In the Indian domestic market, Vitamin B9 prices witnessed a significant hike and assembled at USD 33771.65 per MT CFR JNPT during December. This price hike was supported by the disrupted trade activities due to the disturbance in the Chinese market, which compelled the traders to procure cargoes at increased prices.
Europe
The domestic market sentiments improved in Q4 2021 across the European region on the back of the increased demand from the feed-grade industries. In terms of supply, the outlook remained disrupted throughout the quarter due to peaking energy crises, soaring raw material prices, and high shipping costs. The demand for Vitamin B9 from the downstream pharmaceutical and nutraceutical industries remained strong across the country in quarter 4.
