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October 29, 2008

China's vitamin C market relatively quiet

An eFeedLink Exclusive
 

Price summary

The demand for vitamin C was low in the past two weeks with slight price variation.

Asking prices for vitamin C by the four major producers were between RMB110-120/kg while actual transacted prices were lower. Prices by some small and medium producers were lower. Market prices were in the range of RMB102-110/kg. Lower priced products were eagerly sought for export.

Most producers were producing small quantity of coated ascorbic acid and were supplying from existing inventories to meet market demand. Ex-factory quotes by major producers in Beijing and Zhejiang were mainly at RMB100-110/kg while some in Taige, Anhui would offer lower than RMB95/kg. Average transacted prices in the market were between RMB95-105/kg.

Market transacted prices for L-ascorbate-2-phosphate products have fallen to RMB45- 48/kg. Some customers concluded deals at prices lower than RMB44/kg.
 

Transacted prices of vitamin C products in China

Region

Vitamin C contents (%)

Prices as of Oct 10 (RMB/kg)

Prices as of Oct 24 (RMB/kg)

Price Changes (RMB/kg)

Vitamin C Raw Materials

Guangdong 

98

101-108

101-108

-

Jiangsu 

99

99-107

99-107

-

Shanxi 

99

99-106

99-106

-

Shandong 

99

99-107

99-107

-

Anhui 

99

99-107

99-107

-

Hebei 

99

99-107

99-107

-

Liaoning 

99

99-107

99-107

-

Coated Ascorbic Acid

Guangdong 

93

93-105

92-104

-1

Zhejiang 

93

92-105

90-105

-2 to 0

Anhui 

93

92-102

90-100

-2

Hebei 

97

90-100

90-98

-2 to 0

Jiangsu 

97

93-102

92-101

-1

Liaoning 

97

92-100

91-99

-1

L-Ascorbate-2-Phosphate

Whole China market

Locally produced (35%)

46-49

44-47

-2

All prices are representative and are for reference only.
RMB1=US$0.1460 (Oct 29)
 
 
Exports

In the past two weeks, quotes for the export market were US$15.00 and above. Quotes for bigger export quantities were lower by US$1-2/kg while some producers would offer long- term customers prices as low as US12.00- 13.00/kg.
 

Market forecast

Vitamin C prices are likely to fall in the longer term with steady supply. However, prices are unlikely to fall in the near term as small and medium producers have only limited stocks to offer and the four major producers are not lowering their quotes.
 

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