North America:
In the second quarter of 2023, the domestic Vitamin B4 (Choline Chloride 60%) market in North America experienced a significant price decline. Price negotiations on a CFR Los Angeles basis witnessed a substantial drop, plummeting from $830 per tonne in April to $780 per tonne by June 2023. This marked a notable -6% decline over the course of the quarter. Within the United States, demand for Vitamin B4 (Choline Chloride 60%) unexpectedly decreased, particularly during the latter half of the quarter, primarily stemming from the pharmaceutical and nutraceutical industries. Another contributing factor to the price reduction within the nation was the abundant supply of Vitamin B4 from domestic providers. While inflation rates in the country have aligned with fluctuations in energy prices, analysts perceive this decline in inflation as a transitory phenomenon attributed to the alleviation of supply chain pressures, characterizing it as a temporary blip. Despite divergent sentiments regarding the pricing of vitamins and dietary supplements, the US nutraceuticals market has displayed a mixed pattern of market activity.
Asia Pacific:
In the Asia-Pacific region, the Vitamin B4 (Choline Chloride 60%) market exhibited a mixed pattern of price movements during Q2 2023. Prices initially climbed from $680 per tonne in April to $700 per tonne in May before regressing to $680 per tonne in June 2023. This price decline became particularly sustained during the latter half of the quarter due to reduced demand for Vitamin B4 from the pharmaceutical and nutraceutical sectors, both domestically and globally. Chinese producers of Vitamin B4 (Choline Chloride 60%) found themselves compelled to sell the product at narrower profit margins due to dwindling consumer inquiries. In June, China’s manufacturing activity contracted for the third consecutive month, albeit at a slower pace, as indicated by statistical data. Nevertheless, manufacturers continued production based on demand requirements. These figures emerged as authorities faced mounting pressure to implement more effective measures to bolster an economy that had plateaued following a robust first-quarter rebound. The June Purchasing Managers’ Index (PMI) revealed various imbalances, including continued declines in regional and international demand, an accelerated downturn in small business activities, and heightened pressure on the pharmaceuticals and dietary supplements sector.
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Europe:
In Germany, the domestic Vitamin B4 (Choline Chloride 60%) market exhibited sluggishness during the second quarter of 2023, with CFR Hamburg price negotiations falling from $804 per tonne in April to $705 per tonne by June 2023. This represented a substantial -6.7% decline over the quarter, largely attributable to diminished demand from downstream industries in light of elevated stock levels maintained by suppliers. In April, energy and natural gas prices in Europe dropped to their lowest levels since the onset of the crisis, notably benefiting commerce from Asia, particularly China, amid growing optimism for a robust economic recovery. Conversely, the unexpected rise in Germany’s unemployment rate in June exerted a negative influence on the market landscape. Although inflation surged once more in June, surpassing 6% in Germany, its impact on the country’s Vitamin B4 (Choline Chloride 60%) industry remains uncertain. Market participants continue to harbor reservations regarding the economic situation in the country, mirroring the sentiments of their counterparts worldwide, and are adopting a cautious wait-and-see approach.
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