Vitamin C market remains firm inChina (week ended Dec 31, 2013)

January 2, 2014

An eFeedLink Exclusive

Price summary

Limited vitamin C output pushed prices to move higher during the period in review, with the buoyant pre-festive demand lending further support to the market. However, towards end of the month, as several buyers reduced purchases after securing some stocks, prices gradually stabilized in several regions.

As of December 31, offer prices for pharmaceutical-grade vitamin C were mainly around RMB27/kg while quotes by small- and medium-scale producers were slightly lower. Prices of feed- and food-grade vitamin C were in the range of RMB25-26/kg.

Ex-factory quotes for coated ascorbic acid stayed in the range of RMB29-30/kg.

Prices quotes for L-ascorbate-2-phosphate products were at RMB17.30-17.90/kg, while transacted prices stayed in the range of RMB16.70-17.20/kg. Some big volume deals were concluded at lower prices.

Transacted prices of vitamin C products in China
Region	Vitamin C contents (%)	Prices as of Dec 16 (RMB/kg)	Prices as of Dec 31 (RMB/kg)	Price Changes (RMB/kg)
Vitamin C Raw Materials
Guangdong	99%	25.50-27.50	25.50-28.00	0 to +0.50
Jiangsu	99%	25.50-27.50	25.50-28.00	0 to +0.50
Shanxi	99%	25.50-28.00	26.00-28.00	0 to +0.50
Shandong	99%	25.00-27.50	25.50-27.50	0 to +0.50
Anhui	99%	25.50-27.50	25.50-28.00	0 to +0.50
Hebei	99%	25.00-27.00	25.50-27.50	0 to +0.50
Liaoning	99%	25.50-27.50	25.50-28.00	0 to +0.50
Coated Ascorbic Acid
Guangdong	93%	29.00-32.00	29.50-32.00	0 to +0.50
Zhejiang	93%	28.50-31.00	29.00-31.50	0.5
Anhui	93%	29.00-31.00	29.00-31.50	0 to +0.50
Hebei	97%	28.50-30.50	29.00-31.50	+0.50 to 1
Jiangsu	97%	29.00-31.00	29.50-31.50	0.5
Liaoning	97%	29.00-31.50	29.50-31.50	0 to +0.50
L-Ascorbate-2-Phosphate
Whole China market	Locally produced (35%)	17.30-18.00	17.30-18.00	0
All prices are representative and are for reference only. RMB1=US$0.1652 (Jan 2)

Export

Ex-factory price quotes for the export markets were higher at US$3.75-3.80/kg.

Market forecast

Low availability due to production cuts, pre-Chinese New Year stockpiling, and a stable export market will help to keep vitamin C market stable in January. However, prices are less likely to rise prominently due to the strong competition in the market.

In the longer term, prices of vitamin C are expected to soften during February due to diminished animal inventories.

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