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November 10, 2008

 

China's vitamin C prices soften amid weaker exports
 

An eFeedLink Exclusive
 
 

Price summary

 
The demand for vitamin C was affected by lower export orders, thereby resulting in weaker prices.

 

Asking prices for vitamin C by the four major producers were between RMB108-115/kg while actual transacted prices were lower.  Prices by some small and medium producers were lower. Market prices were in the range of RMB100-108/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 RMB98-107/kg while some in Taige, Anhui would offer lower than RMB90/kg. Average transacted prices in the market were between RMB93-102/kg.

 

Market transacted prices for L-ascorbate-2-phosphate products have fallen to RMB44-46/kg. Some customers concluded deals at prices lower than RMB43/kg.

 

Weekly transacted prices of vitamin C products in China

Region

Vitamin C contents (%)

Prices as of Oct 24 (RMB/kg)

Prices as of Nov 7 (RMB/kg)

Price Changes (RMB/kg)

Vitamin C Raw Materials

Guangdong 

98

101-108

100-107

-1

Jiangsu 

99

99-107

98-106

-1

Shanxi 

99

99-106

98-106

-1

Shandong 

99

99-107

98-107

-1

Anhui 

99

99-107

99-106

-1

Hebei 

99

99-107

99-106

-1

Liaoning 

99

99-107

99-106

-1

Coated Ascorbic Acid

Guangdong 

93

92-104

91-102

-2 to -1

Zhejiang 

93

90-105

89-103

-2 to -1

Anhui 

93

90-100

89-99

-1

Hebei 

97

90-98

89-97

-1

Jiangsu 

97

92-101

90-100

-2 to -1

Liaoning 

97

91-99

90-98

-1

L-Ascorbate-2-Phosphate

Whole China market

Locally produced (35%)

44-47

43-46

-1

All prices are representative and are for reference only.
RMB1=US$0.1465 (Nov 10)
 

 

Exports

 

In the past two weeks, quotes for the export market were US$14.00 and above. Quotes for bigger export quantities were lower by US$1/kg while some producers would offer long- term customers prices as low as US12.00/kg.

 

 

Market forecast

 

Vitamin C prices are likely to soften in the long term with steady supply. However, prices are unlikely to fall substantially in the near term as major producers will stand firm with their price quotes amid limited supplies.
 
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