For the Quarter Ending June 2025
North America
• The Price Index for Vitamin E 50% CWS in North America (USA) showed an upward trend in July 2025, with FOB Illinois values increasing from USD 35,000/MT in June to higher levels throughout the month.
• The Spot Price of Vitamin E 50% CWS rose weekly due to persistent tightness in supply and solid end-user demand from pharmaceutical and animal nutrition sectors across the US market.
• The Price Forecast for August 2025 indicates continued upward momentum, supported by seasonal restocking and expectations of tight global availability, especially from major Asian suppliers.
• The Production Cost Trend remained elevated in July 2025 due to increased import freight costs, raw material inflation from Asia, and higher processing costs, adding pressure to US supplier margins.
• The Demand Outlook stayed strong as downstream industries in the US actively procured stock ahead of anticipated Q4 demand peaks, contributing to tightening inventory and supporting higher price offers.
• Why did the price of Vitamin E 50% CWS change in July 2025? The price increased in the USA due to firm downstream demand, low inventories, rising freight and input costs, and aggressive restocking activities by key buyers.
Europe
• The Price Index for Vitamin E 50% CWS in Germany showed a declining trend in July 2025, continuing the downward trajectory observed since late June due to falling international offers.
• The Spot Price of Vitamin E 50% CWS CFR Hamburg averaged USD 24,805/MT during June 2025, with July prices reflecting further weakness as exporters from China lowered their quotes amid soft overseas demand.
• The Price Forecast for Vitamin E 50% CWS in Europe suggests sustained softness into August 2025, attributed to ample supply, discount-driven trade, and flat buying momentum from nutraceutical and personal care industries.
• The Production Cost Trend for Vitamin E 50% CWS in China declined in July 2025, as feedstock prices (notably isophytol and trimethylhydroquinone) eased, enabling exporters to offer lower CFR rates to Europe and pressure domestic distributors.
• The Demand Outlook for Vitamin E 50% CWS in Germany remained muted, with formulators and supplement manufacturers delaying restocking in anticipation of further price corrections, leading to sluggish spot market activity.
• Why did the price of Vitamin E 50% CWS change in July 2025? Oversupply from Asia, falling production costs in China, and subdued downstream demand in Europe led to a noticeable decline in the Spot Price and exerted downward pressure on the overall Price Index.
APAC
• The Price Index for Vitamin E 50% CWS in China registered a sharp decline in July 2025, reversing the firm-to-stable trend seen through May and early June.
• Spot Price of Vitamin E 50% CWS FOB Qingdao averaged USD 24,700/MT during the latest assessed week of July, reflecting weakened procurement and aggressive seller discounts.
• In July 2025, the price of Vitamin E declined primarily due to persistently high inventory levels, a slowdown in export orders, and muted restocking demand across key Asia-Pacific markets.
• Production Cost Trend remained soft, with stable to weaker prices for major inputs such as isophytol and TMHQ, allowing Chinese producers to cut offers and maintain production margins.
• Demand Outlook turned bearish as both domestic and international buyers scaled back purchases amid already saturated inventories, uncertainty in the pharmaceutical and nutraceutical sectors, and anticipation of further price drops.
• Weak procurement from Europe and North America compounded the oversupply situation in APAC, prompting Chinese exporters to adopt competitive pricing strategies to retain market share.
• The vitamin market in China witnessed limited new inquiries in July, with large-scale buyers postponing orders, awaiting further market corrections and clarity on Q3 production volumes.
• Why did the price of Vitamin E change in July 2025? The price fell due to a combination of oversupply from Q2 production ramp-up, poor downstream demand from pharmaceuticals and cosmetics, and export market stagnation, especially in the EU and US.
• Inventory pressure across major manufacturers added further downward pressure on prices as sellers opted for destocking ahead of anticipated September demand from seasonal sectors.
• Price Forecast for August 2025 indicates mild stabilization as inventory clears gradually and localized demand shows signs of seasonal uptick, especially in the preventive healthcare and dietary supplement categories.
For the Quarter Ending March 2025
North America
The U.S. Vitamin E market showed a steady upward price trend throughout the first quarter of 2025, with prices reaching $25,900 per MT FOB Illinois by the end of March. The market started the year with a firm tone, with prices increasing due to strong demand and limited supply. By January 31, prices had reached $24,850 per MT, driven by favorable market conditions during China’s Lunar New Year closure. This resulted in a surge in demand from the domestic nutraceuticals and animal feed sectors, while import flows remained constrained.
In February, the upward movement continued by the end of the month. The market remained tight due to ongoing logistical challenges, including higher freight rates and the implementation of new tariffs. Despite these challenges, demand from the pharmaceutical and nutraceutical sectors remained strong, further pushing prices upward. Domestic manufacturers reported increased production costs, which added to the overall upward pressure on prices.
By March, prices continued to rise. This increase was driven by stable demand and limited supply, coupled with rising production costs due to higher raw material prices. The market remained resilient, supported by continued interest from both domestic and export buyers, ensuring that the bullish trend persisted throughout the quarter.
Asia Pacific
In Asia, the Vitamin E market saw a steady price increase through early 2025, particularly in China, with consistent upward movement in the Vitamin E 50% CWS segment. January started with the industry facing the typical Lunar New Year slowdown, which saw manufacturing facilities across China temporarily halt production. Despite this, prices remained stable at $24,000 per MT FOB Qingdao as of January 31, 2025, supported by continued strong international demand and higher manufacturing costs. The post-holiday recovery began to take shape by mid-February, with prices gradually appreciating by February 21, 2025, reflecting the resumption of full production capacity and continued export interest, especially from Western markets.
As March progressed, price increases continued. The rise was driven by ongoing strong demand, particularly from the pharmaceutical, nutraceutical, and animal feed sectors, both domestically and abroad. Tightened supply, partly due to slower-than-expected recovery in domestic production and the ongoing effects of global freight disruptions, further supported the upward trend. Additionally, the Chinese government's efforts to stabilize the economy and maintain export competitiveness—through adjustments to tariffs and strategic pricing—helped secure strong market sentiment.
Overall, the Chinese Vitamin E market remained bullish, with both supply constraints and robust international demand shaping pricing dynamics. This upward trend was expected to continue into the second quarter of 2025, with manufacturers maintaining their export prices in response to heightened buyer activity and logistical challenges.
Europe
In Q1 2025, the German Vitamin E 50% CWS market saw steady upward price movements, with significant influences from production costs, logistics, and sustained demand. In January, prices began the year at $23,500 per MT CFR Hamburg, reflecting a +1.3% increase from December 2024. The rise was primarily due to higher production costs in major sourcing regions, particularly China, and post-holiday demand from the pharmaceutical and nutraceutical sectors. Despite the Chinese Lunar New Year festivities, German importers were well-prepared with sufficient inventory, maintaining stable pricing through the period.
In February, the upward trend continued, fueled by ongoing supply chain pressures and strong sector demand. By month-end, prices further increased, reflecting the sustained market strength.
March saw a slight further increase, driven by higher production and energy costs from China and continued demand from key sectors. Despite these increases, German importers maintained procurement activity, indicating confidence in the market. Overall, the market remains firm, with strong demand and elevated production costs shaping price expectations for the coming months.
For the Quarter Ending December 2024
North America
During the quarter 4 of 2024, Vitamin E prices in North America displayed a complex market landscape marked by strategic supply chain interventions. The market experienced notable volatility following the German plant explosion, which triggered global supply recalibrations of Vitamin E. Values in the United States skyrocketed to $23,650 per MT FOB New Jersey in October alone demonstrating a surge by 8% from the month prior, reflecting intricate market dynamics.
Port infrastructure and logistics networks underwent significant stress, with market participants implementing adaptive strategies, which got better in the latter half of the quarter. Domestic suppliers navigated challenging inventory management scenarios, responding to disruptions caused by the unexpected German manufacturing incident. Both Export and import pricing mechanisms demonstrated remarkable resilience amid global uncertainties.
The market followed nuanced seasonal trends, with sustained pharmaceutical and nutraceutical demand creating a complex supply environment. Supply chain stabilization efforts and strategic inventory positioning characterized the quarter's market interactions.
APAC
In Q4 2024, Vitamin E prices in the Asia Pacific region demonstrated extraordinary market complexity, experiencing substantial supply chain transformations triggered by global manufacturing disruptions. The market dynamics began with the Chinese Golden Week holiday, which initially paused activities but subsequently unleashed strategic procurement approaches.
Manufacturers capitalized on limited inventories, improving freight rates and responding to escalating Western market demands throughout the quarter. The region witnessed sophisticated supply chain strategies, with companies implementing nuanced inventory management techniques. International buyers displayed proactive behaviors, compelling suppliers to strategically ramp up production in response to the German plant explosion's ripple effects.
In December 2024, the Chinese Vitamin E market experienced strategic transformation. Chinese manufacturers as well as suppliers systematically expanded inventories before the Christmas holiday season. Manufacturers developed resilient procurement strategies, strategically positioning themselves to respond to complex market dynamics and diversified international demand patterns.
Europe
In Quarter 4 2024, Vitamin E prices in Germany experienced unprecedented market volatility in October following a significant plant explosion that dramatically reshaped supply chain dynamics. The incident propelled market conditions into extreme uncertainty, driving prices and creating substantial supply shortages across European markets.
The unexpected manufacturing disruption in the first half compelled German buyers to implement aggressive procurement strategies for the desperate pursuit of alternative supply sources with international exporters fundamentally altering existing market structures. Merchants faced complex challenges, maintaining profit margins while navigating severely constrained supply environments. The plant explosion became a critical inflection point, generating widespread market recalibrations.
December bough market stability, characterized by European importers reassessing their inventory before the Christmas holiday season market shutdown, which led to suppliers maintaining highly competitive pricing strategies. The market environment demonstrated remarkable adaptability, balancing complex procurement challenges with strategic market opportunities emerging from the manufacturing crisis.
For the Quarter Ending September 2024
North America
The third quarter of 2024 for the North American Vitamin E market exhibited a notable bullish trend, characterized by significant price volatility following global market perturbations post the August incident. A substantial year-over-year price appreciation of 21% was observed compared to Q3 2023, indicating robust market dynamics. Quantitative analysis reveals Vitamin E 50% CWS Grade prices escalated from USD 17,600/MT FOB Illinois in July to USD 22,000/MT in September. Multiple market variables contributed to this price trajectory, encompassing supply-side constraints, elevated global demand coefficients, geopolitical market perturbations, and logistics sector inefficiencies.
The BASF facility incident in Germany (August 2024) precipitated significant disruptions in the global Vitamin E supply matrix, with substantial repercussions manifesting in the U.S. market. Given BASF's position as a primary global producer, the operational disruption resulted in immediate capacity constraints, triggering acute supply shortages. This supply-demand equilibrium destabilization rapidly translated into heightened price volatility across global markets, including the U.S.
The U.S. market experienced notable challenges as manufacturers addressed acute supply constraints. Critical industrial sectors, including nutritional supplements, cosmetics manufacturing, and pharmaceutical production, encountered elevated production cost metrics and potential raw material procurement challenges. Market participants initiated alternative supplier sourcing protocols, frequently at premium price points. This market event highlighted supply chain vulnerability metrics within the U.S. industrial sector, catalyzing comprehensive reevaluation of operational protocols and emphasizing the necessity for enhanced supply chain resilience optimization strategies.
APAC
The APAC region's Vitamin E market demonstrated substantial price appreciation during Q3 2024, influenced by multiple market variables. Supply matrix constraints, primarily attributed to the industrial disruption at BASF's facility, resulted in inventory optimization challenges and heightened demand coefficients. These supply-side perturbations, combined with robust demand dynamics across industrial sectors including cosmetics, nutraceuticals, and pharmaceutical manufacturing, contributed to significant price escalation trajectories.
The Chinese market exhibited particularly notable price volatility metrics, representative of the region's bullish market conditions. Early September data indicates unprecedented market turbulence, with price appreciation approximating 25%, correlating directly with global supply chain perturbations following the BASF facility incident. The market dynamics were further exacerbated by seasonal disruptions, specifically Typhoon Bebinca's impact on Shanghai's logistics infrastructure in late September, creating compound supply-side constraints.
Quantitative analysis reveals Vitamin E 50% CWS prices demonstrated significant escalation from USD 13,000/MT to USD 19,000/MT FOB Qingdao from July to September. This price trajectory was primarily driven by: Global market volatility coefficients, enhanced international demand metrics and critical inventory constraints. The cumulative effect of port operational disruptions and industrial sector deceleration has amplified the supply chain perturbations, impacting both Vitamin E and associated commodity markets within China's trading dynamics. This confluence of factors has created unprecedented market conditions, characterized by extreme price volatility and supply uncertainty.
Europe
The European Vitamin E market exhibited substantial price appreciation during Q3 2024, driven by multiple market variables. Demand escalation across industrial sectors, including pharmaceuticals, cosmetics, and nutraceutical manufacturing, emerged as a primary price determinant. Supply matrix disruptions, particularly within key production hubs, contributed to supply-demand equilibrium destabilization, resulting in upward price trajectories. Additionally, logistics sector inefficiencies introduced supplementary cost variables, amplifying the overall price appreciation dynamics.
The German market experienced particularly acute challenges following the BASF facility incident in August 2024, which precipitated significant disruptions in the global Vitamin E supply. Given BASF's position as a primary global producer, the operational disruption resulted in immediate capacity constraints, triggering acute supply shortages. This supply-side constraint rapidly translated into heightened price volatility across industrial sectors within Germany and global markets. The event's impact was particularly pronounced in the European context. The market disruption highlighted the interconnected nature of global supply chains and their susceptibility to localized industrial perturbations, resulting in widespread price volatility and supply uncertainty across European markets.
Market participants initiated alternative supplier sourcing protocols, necessitating procurement at premium price points. This supply chain perturbation highlighted systemic vulnerabilities within the global supply matrix and their consequent impact on German market dynamics. Prices in September were settled around $21000 per MT CFR Hamburg.
FAQ’s
1. Why did the Spot Price of Vitamin E 50% CWS drop in China during July 2025?
The Spot Price of Vitamin E 50% CWS in China declined to USD 24,700/MT FOB Qingdao due to elevated inventory levels, muted export activity, and weak restocking demand. Producers slashed offers to manage stock overhang and retain competitiveness amid low procurement from global buyers.
2. What is driving the bearish Price Index for Vitamin E in the USA?
In North America, the Price Index showed a declining trend in July 2025 due to sustained low demand from the dietary supplement and feed additive sectors. Spot trading remained thin, and buyers delayed purchases anticipating further discounts, pressuring both prices and margins.
3. Why did the Vitamin E market in Germany remain weak in July 2025 despite limited imports?
Despite reduced imports, Germany’s Spot Price remained subdued because of sluggish downstream demand and high availability of previously stocked material. Buyers remained cautious, and production cost trends in supplying countries like China kept pressure on European offers.
4. What are the expectations for Vitamin E Spot Prices across regions in August 2025?
Spot Prices in APAC (especially China) are expected to stabilize as producers complete destocking and localized demand improves. However, in Europe and the USA, price forecasts remain neutral to weak due to low seasonal demand and lingering inventory levels.
5. How are Production Cost Trends impacting global Vitamin E prices?
Global Production Cost Trends have been soft due to stable or falling input costs such as isophytol and TMHQ. This has enabled producers, especially in China, to offer lower Spot Prices without compressing margins, influencing the global Price Index downward across APAC, EU, and the US.
