For the Quarter Ending December 2025
North America
• In the USA, the Vitamin E Price Index fell by 17.57% quarter-over-quarter, reflecting elevated inventories and weak demand.
• The average Vitamin E price for the quarter was approximately USD 28693.33/MT reported by regional aggregation services.
• Vitamin E Spot Price softened as sellers lowered FOB offers amid abundant stocks and subdued distributor inquiries.
• Vitamin E Production Cost Trend eased modestly owing to stabilized feedstock prices and steady U.S. natural gas availability.
• Vitamin E Demand Outlook remains muted with routine purchases in supplements, cosmetics, and feed failing to spur restocking.
• Vitamin E Price Forecast indicates gradual recovery as seasonal restocking and renewed procurement support modest upward movement.
• Price Index readings show persistent bearish momentum through October, stabilizing in December amid balanced supply flows.
• Export demand and competitive Asian acetates pressured offers, while domestic production remained operational with comfortable inventories.
Why did the price of Vitamin E change in December 2025 in North America?
• Elevated finished-goods inventories from Q3 restocking pressured spot markets, reducing seller urgency and compressing spreads.
• Competitive Asian acetate imports and discounted export offers undercut domestic bids, amplifying downward Price Index momentum.
• Stable feedstock costs and efficient logistics prevented steeper falls, while weak procurement limited immediate rebound.
APAC
• In China, the Vitamin E Price Index fell by 29.2% quarter-over-quarter, driven by inventory overhang and weak offtake.
• The average Vitamin E price for the quarter was approximately USD 7154.33/MT, reflecting reported totals.
• Vitamin E Spot Price remains depressed due to ample plant run-rates and subdued premix procurement activity.
• The Vitamin E Price Forecast indicates gradual stabilization as end-of-year restocking and export inquiries improve the balance.
• Vitamin E Production Cost Trend showed easing as tocopherol feedstock costs softened, supporting marginally improved margins.
• The Vitamin E Demand Outlook is cautious; animal feed and nutraceutical channels provide steady incremental offtake.
• Vitamin E Price Index volatility eased as disciplined plant turnarounds kept supply growth in check regionally.
• Export demand and Qingdao logistics stability moderated declines, with inventories aligning to seasonal purchasing patterns.
Why did the price of Vitamin E change in December 2025 in APAC?
• Persistent inventory overhang from Q3 oversupply reduced supplier urgency, maintaining downward pressure despite modest purchases overall.
• Feedstock costs softened modestly, trimming conversion expenses but insufficient to offset abundant production and run-rates nationally.
• Qingdao logistics remained reliable, enabling steady exports and leaving regional supply ample despite selective restocking activity.
Europe
• In Germany, the Vitamin E Price Index fell by 12.45% quarter-over-quarter, reflecting import-driven oversupply weakness.
• The average Vitamin E price for the quarter was approximately USD 21337.67/MT reported via surveys.
• Vitamin E Spot Price remained under pressure as the Price Index signalled persistent downward momentum.
• Vitamin E Price Forecast signals a gradual recovery while Vitamin E Production Cost Trend remains muted.
• Vitamin E Demand Outlook is steady from the nutraceutical and feed sectors, moderating Price Index volatility.
• Vitamin E Price Index weakness reflected rebuilt inventories and aggressive Asian export offers, lowering costs.
• Domestic plant run rates remained steady, and Hamburg port efficiencies ensured flows, limiting supply disruptions.
• Buyers began restocking ahead of winter, tempering downside while selective exporters prepared to raise offers.
Why did the price of Vitamin E change in December 2025 in Europe?
• Chinese export concessions lowered landed costs and pressured local CFR offers, amplifying price declines in December.
• Stable feedstock and energy costs reduced production cost pressures, keeping sellers willing to concede discounts.
• Smooth Hamburg logistics and comfortable inventories removed urgency, enabling buyers to negotiate lower spot prices.
For the Quarter Ending September 2025
North America
• In the USA, the Vitamin E Price Index rose by 13.76% quarter-over-quarter, driven by procurement.
• The average Vitamin E price for the quarter was approximately USD 34810/MT FOB Illinois basis.
• Vitamin E Spot Price eased as abundant feedstock and lower freight reduced landed costs broadly.
• Vitamin E Price Forecast indicates modest gains as restocking and seasonal supplement demand gradually firm.
• Vitamin E Production Cost Trend muted as stable energy and feedstock pricing limited cost pressure.
• Vitamin E Demand Outlook remains steady with supplement and animal feed offtake but cautious restocking.
• Vitamin E Price Index movement owed to elevated inventories and softer exports, prompting discounted offers.
• Major producers maintained normal run-rates while specialty non-GMO shortages supported selective premium offers for grades.
Why did the price of Vitamin E change in September 2025 in North America?
• Abundant feedstock arrivals and normal plant run-rates increased supply, exerting downward pressure on September pricing.
• Weaker export enquiries and elevated distributor stocks reduced demand, prompting sellers to trim offers selectively.
• Lower freight costs and stronger dollar reduced landed import costs, softening procurement, limiting price gains.
APAC
• In China, the Vitamin E Price Index fell by 34.36% quarter-over-quarter, driven by inventory overhang and weak demand.
• The average Vitamin E price for the quarter was approximately USD 10110.00/MT, per FOB Qingdao assessments.
• Vitamin E Spot Price weakened as exporters discounted offers, managing inventories amid cautious international buying.
• Short term Vitamin E Price Forecast indicates limited upside with oversupply likely to cap near-term recoveries.
• Vitamin E Production Cost Trend stayed stable due to uninterrupted feedstock and modest energy cost movements.
• Vitamin E Demand Outlook softened as pharmaceuticals, animal feed and nutraceuticals deferred orders amid cautious restocking.
• Major producers reported full runs with scheduled maintenance affecting availability and pressuring the spot Price Index.
• Export competition and distributor inventories kept offers depressed, limiting sustained recovery in the Price Index.
Why did the price of Vitamin E change in September 2025 in APAC?
• Elevated inventories and continuous plant production created oversupply, prompting downward price adjustments.
• Weak export inquiries and cautious downstream purchasing limited demand, extending bearish momentum during September.
• Stable feedstock costs and normal utilities allowed output continuity, preventing producers from reducing offers.
Europe
• In Germany, the Vitamin E Price Index fell by 2.6871% quarter-over-quarter, reflecting abundant imports recently
• The average Vitamin E price for the quarter was approximately USD 24372.00/MT reported on CFR Hamburg basis
• Vitamin E Spot Price softened as Asian export offers lowered landed costs, pressuring German buying
• Vitamin E Price Forecast expects gradual stabilization as restocking and demand tighten available German supply
• Vitamin E Production Cost Trend subdued with stable freight and feedstock failing to lift offers
• Vitamin E Demand Outlook highlights selective strength in pharmaceuticals and nutraceuticals, but procurement remained cautious
• Vitamin E Price Index volatility reflected alternating weekly offers, port congestion and shifting exporter quotations
• Elevated distributor stocks and resumed Chinese arrivals reduced urgency, sustaining downward pressure on spot negotiations
Why did the price of Vitamin E change in September 2025 in Europe?
• Uninterrupted imports and BASF capacity resumption increased supply, pressuring German Vitamin E spot pricing significantly
• Lower Asian offers and easing freight reduced landed costs, weakening domestic Price Index and urgency
• Elevated distributor inventories and cautious downstream procurement limited restocking, sustaining bearish momentum into September 2025
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.
