Vitamin markets see B3 stabilise after sharp drop and force majeure
Despite signs of tightening vitamin supply and upcoming plant maintenance, buyers are largely inactive, waiting for clearer signals. With Q2 mostly contracted and Q3 still open in many cases, uncertainty looms. Meanwhile, tariff shifts and new players are adding fresh complexity to an already cautious market. (Market update week 19)
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Vitamin E 50%
Prices in the USA remain relatively stable. In other regions, the price of vitamin E declined further over the past few weeks, with hardly any buying activity is seen. Despite the fact that suppliers are in some cases not offering or that plant maintenance is announced, the buyers are not reacting and continue to wait on the sidelines. Q2 is contracted and a small portion of Q3 as well.
Vitamin A 1000
Prices continue to decline gradually, leading market participants to question when this trend will stabilise. BASF has yet to re-enter the market, with expectations set for May 2025, while a new supplier from China is anticipated to emerge shortly. Demand appears to be somewhat subdued, and traders still have an excess of materials available. There are no indications of an imminent shift in the current market trend. In the USA, vitamin A1000 remains unaffected by the latest tariffs. While contracts for Q2 are solidified, the outlook for Q3 remains largely uncommitted.
Vitamin D3 500
A slight decline in prices is observed in some regions, influenced by fluctuations in exchange rates or by sellers eager to move inventory. While supply remains tight, demand is lagging slightly, leading to persistently high prices, albeit with a gradual downward trend across most regions. Initially, the understanding was that vitamin D3 is exempt from the latest round of import tariffs, but it now seems it is affected after all, leading to some small price increase in the USA. Contracts for Q2 are in place.
D-Calpan
The base price FOB China is at a very low level and no nearby changes are expected. In the USA also no price change is seen as d-calpan is exempt from the latest tariffs. In Europe, the price came down due to the EUR-USD exchange rate. Q2 is well contracted. Q2 is well contracted.
Vitamin B3
The market appears to have stabilised after a recent period of price decline, with prices remaining relatively low. A manufacturer declared force majeure some time ago, but this situation has not significantly affected the market dynamics. Most of the second quarter and part of the third quarter are already contracted, leaving buyers on the sidelines for any additional volumes. Notably, Vitamin B3 is exempt from the latest tariffs in the USA.
