July 1, 2022

China VC: Supply exceeds demand (week ended Jun 27, 2022)

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Limited hog feed production curtailed the sales of vitamin C. Producers cut prices of vitamin C further with supplies in excess.

In the local market, 99% raw powder vitamin C prices were dipped to the range of RMB23.10-30/kg. Prices of 93% coated products dropped to the range of RMB23.10-30/kg. whereas those of 35% phosphorylated ones decreased to the range of RMB16.40-20/kg

Export prices of vitamin C (99% raw powder) slid to US$3.45/kg while those of 98% coated products fell to US$3.45/kg. Prices of 35% phosphorylated vitamin C weakened to US$2.45/kg respectively.

Demand for vitamin C is unlikely to increase in the near term with hog inventories low. Producers will continue to hold down prices in a bid to clear mounting stocks.

Full version of the report is available at: https://spoutinfo.com/market-forecast-detail/29/32/325/4214

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