This week’s feed additive update takes a look at the latest market trends of Vitamin B12 and B3 Niacinamide.
The global price of Vitamin B12 has decreased by 26% since last week, triggering a unique activity notification to the Glowlit community.
Glowlit has also seen a decrease in the number of entries from last week to this week. With corn acting as a major influencer on supply, and the price of corn continuously high, we can assume that the decrease in B12 price is due to changes in market demand. As a reminder, just over 2 years ago in February 2018, the price of Vitamin B12 stood at US$ 92.1, nearly 4.5 times higher than what it is today.
The global price of Vitamin B3 Niacinamide has decreased by 6.2% since last week. Glowlit has also seen a 8.7% decrease in the number of entries from last week to this week. So far we see a disconnect from what is being reported from the supply side of the market. Last week, on June 11, Brother Enterprises reported raising the price of Niacinamide due to increases in the prices of necessary raw materials. In October 2018, the global price of Vitamin B3 Niacinamide stood at US$ 3.82, approximately 60% of the price today.