For the Quarter ending March 2022
North America
The values of Vitamin D witnessed fluctuation amidst the consistent demand for vitamin D supplements by consumers from downstream pharmaceutical and cosmetic sectors in the US market. The prices decreased in January due to ample supplies in the market to cater to the consumer's needs. However, prices increased during mid-quarter due to prolonged shortages of raw materials amid the supply chain disruptions during the Russia – Ukraine war. The values remained firm at the end month of the quarter as the prices for FOB New Jersey got settled at USD 21620 per tonne in March.
Asia
In China, the prices of Vitamin D surged significantly amid the consistent demand for Vitamin D supplements from the consumers during 1st month of Q1. The values rose significantly owing to the closure of major pharmaceutical and nutraceutical manufacturing units in China due to the imposition of China's zero covid policy. However, the values remained firm in the H2 of Q1 due to port congestion and supply chain disruptions impacted by the conflict between Ukraine and Russia. In China, the vitamin D3 food-grade prices on FOB basis in China accessed at USD 15300 per tonne by the end of the quarter. In Indian Market, the prices remained firm due to the consistent demand for vitamin D in the pharmaceutical companies.
Europe
During the first quarter of 2022, the values of Vitamin D witnessed an increase in the European market. The prices remained firm throughout due to consistent demand from the downstream pharmaceuticals and cosmetic industries in Europe. Most vitamins in Europe are imported from the China region only, so the increased values in China influenced the prices of vitamin D in the domestic market throughout Q1 of 2022. High freights costs from exporting countries to the region impacted the importing cost of materials and disrupted supply chains because the crisis in East Europe further increased the production cost of vitamin D3.The estimated FOB discussions for Vitamin D in Germany were USD13500 per MT in January.
For the Quarter Ending December 2021
North America
In the North American region, the prices of Vitamin D decreased slightly in the domestic market during the fourth quarter of 2021. The stability in prices was observed in the last few weeks of November, followed by the stagnant demand growth, increased logistics, and improved supply fundamentals across the region after Q3 disruptions. Vitamin D prices deescalated from USD 22064/MT to USD 21755/MT FOB New Jersey from October and November. The consumption volumes remained consistent from the downstream nutraceutical and pharmaceutical industry throughout Q4. The supply fundamentals are likely to strengthen in Q1 2022, given there are no unforeseen weather conditions in the upcoming months.
Asia Pacific
During the fourth quarter of 2021, the prices of Vitamin D3 continued to slip downwards in the Chinese domestic market and decreased from USD 16148/MT to USD 12801/MT FOB Qingdao from October to December. The resumption of operations after turnarounds in several facilities forced the market players to organize their inventories and offer the material at competitive prices in the local markets. The Chinese authorities imposed another lockdown due to the resurgence of COVID, which hindered the supply chain and supported the agitation in the spot market in Q4. The consistent practices carried out by the authorities to curb the power rationing proportionally dropped the production cost of Vitamin D in November in the Chinese domestic market. An adequate trading and ample momentum at the transactions of Vitamin D at the spot market led to improvement in the producer's quoted offers as the prices stabilized in the fourth week of November. The offers for Vitamin D rebounded tremendously in the final week of December due to the supply glut induced by the forced closure of a couple of Nutraceutical facilities, including ZMC and NHU in Zhejiang province amidst the rising COVID cases. In India, the pricing trend of Vitamin D showcased an upward trajectory in the domestic market on the back of the improved supplies from China as the nutraceutical producers were keen to destock their inventories ahead of year-end.
Europe
In Europe, the market trend of Vitamin D demonstrated an upward momentum in the fourth quarter of 2021. As Vitamins are majorly imported from China in Netherlands and Germany, increased raw materials prices, peaking energy crises, and high freight costs forced to trade the product at high prices across the region. The demand from the downstream industries, including nutraceutical and pharmaceutical, remained strong throughout the quarter.
