September 2, 2013
Plentiful supply weakens China biotin market
An eFeedLink Exclusive
Prices moved lower.
|
Transacted prices of 2% biotin in China (RMB/kg) | ||
|
Prices as of Jul 3 |
Prices as of Jul 31 |
Price change |
|
73-77 |
71-75 |
-2 |
|
RMB1=US$0.1635 (Sep 2) | ||
One major producer in Zhejiang halted operation during August for routine maintenance. Nonetheless, supplies remained ample as a new producer in Anhui commenced production. Hence, prices of biotin dipped during the period in review amid abundant availability and flat demand.
Price quotes major producers slid to RMB71-72/kg while transacted prices in the market were generally in the range of RMB72-75/kg.
China’s demand for biotin should increase in tandem with higher feed consumption during September thanks to the pre-festive releases. However, biotin market is unlikely to firm up with supplies in excess.
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