For the Quarter Ending June 2023
North America:
In the second quarter of 2023, the Vitamin B12 market in North America witnessed an upward price trajectory. Price negotiations for CFR Los Angeles surged from $1,830,500 per metric ton to $1,870,900 per metric ton between April '23 and June '23, indicating a substantial increase of 2.2% over the quarter. Following a moderation in the inflation rate at the end of Q1 2023, demand for Vitamin B12 experienced a significant surge across the nation, particularly in early May, leading to a notable uptrend in prices. Despite a decline in energy prices, industry experts note persistent underlying inflation, surpassing the Federal Reserve's target. The nutraceuticals market in the country displayed distinct patterns amid mixed sentiments on vitamin prices. The US Dollar Index (USDX) experienced a 2.5% loss for the year as of May 12, 2023, compared to a 1.9% loss over the previous 12 months. This strengthened the US dollar, attracting demand and providing buyers and wholesalers with opportunities to capitalize on the potential and volatility in the nation's nutraceuticals market. Labor strikes at the Port of Los Angeles in the latter part of Q2 2023, amid stalled contract negotiations, pose a potential threat to trade in the near future.
Asia Pacific:
In the second quarter of 2023, the Vitamin B12 market in the Asia-Pacific region exhibited positive sentiments. Price negotiations for FOB Shanghai rose from $1,446,350 per metric ton to $1,502,340 per metric ton between April and June 2023. This upward price trend gained momentum in the middle of the quarter as demand for vitamin B12 increased in both domestic and international pharmaceutical and nutraceutical sectors. Encouraged by heightened demand from regional and global buyers, China's vitamin B12 producers raised prices to achieve higher margins. The latter half of the quarter saw a resurgence in China's nutraceutical market, with expanding businesses domestically and internationally. A sudden surge in demand, coupled with inquiries, led to a supply shortage from local suppliers, further propelling prices. China's manufacturing activity contracted for the third consecutive month in June, albeit at a slower pace, prompting calls for additional stimulus to support the nation's economy. Analysts have downgraded forecasts for China's economy for the remainder of the year, citing disappointing May industrial production and retail sales data as signs that the post-pandemic recovery seen in the first quarter is losing momentum.
Get Real Time Prices of Vitamin B12: https://www.chemanalyst.com/Pricing-data/vitamin-b12-1254
Europe:
The second quarter of 2023 brought less optimism than anticipated for the German Vitamin B12 market, as price discussions for CFR Hamburg dipped slightly from $1,715,500 per tonne to $1,705,500 per tonne. Amidst the lowest gas prices in Europe since the onset of the energy crisis in April, optimism for a robust economic recovery increased, leading to improved trade from Asia. However, with ample stocks of vitamin B12 at domestic processors and subdued demand, price negotiations eased in the latter half of Q2 2023. In response to the slight improvement in European economic conditions, the European Union (EU) aimed to reduce dependence on Chinese imports by bolstering the nation's manufacturing industry. To preempt potential shortages, supplies were accumulated in warehouses, prompting reductions in price margins to manage inventories. Although inflation in Germany rose by more than 6% in June, its impact on the country's nutraceuticals industry remains uncertain. Weaker-than-expected economic performance in China post-COVID-19 restrictions, the prospect of a US recession, and ongoing monetary tightening are perceived factors weighing on German business sentiment, as suggested by industry experts.
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Vegan Vitamin B12 – Very low B12 intakes can cause anemia and nervous system damage.
The only reliable vegan sources of B12 are foods fortified with B12 (including some plant milks, some soy products and some breakfast cereals) and B12 supplements.
Vitamin B12, whether in supplements, fortified foods, or animal products, comes from micro-organisms.
Most vegans consume enough B12 to avoid anemia and nervous system damage, but many do not get enough to minimize the potential risk of heart disease or pregnancy complications.
