For the First Quarter of 2022
Lactoflavin prices increased significantly in the Asia Pacific region during the first quarter of 2022. FOB prices in China increased from 58100 USD/MT to 60560 USD/MT between January and March 2022. After the Chinese government mainly implemented the zero-tolerance covid policy in late December 2021 in order to contain the Omicron epidemic, the Vitamin B2 price chart was significantly influenced by the abrupt shutdown of multiple ports and factories. The forced closure of major feed grade factories in Zhejiang province, notably NHU and ZMC, had a detrimental effect on the nutraceutical markets throughout China. On the demand side, the product was widely consumed in the nutraceutical and pharmaceutical industries. Following the commencement of port movement and market activity in late H2 2022 in China, output was increased to fulfill local demand. Lactoflavin prices in India were estimated in March 2022 to be 61125.3 USD/MT ex-Mumbai and 53197.6 USD/MT CFR JNPT.
Consistent downstream offtakes supported favorable sentiments in the Vitamin B2 market in Europe during the first quarter of 2022. Market attitudes have been significantly impacted by rising raw material costs and a protracted supply chain disruption from Asian markets. Domestic European producers were obliged to trade Vitamin B2 at somewhat higher prices due to a scarcity of feedstock and high input costs as a result of the peaking energy crisis. Increased production expenses as a result of high oil and gas prices during the Russia-Ukraine armed conflict in the second part of Q1 boosted lactoflavin prices in Europe further. FOB prices reached a zenith in January 2022, when they reached 35200 USD/MT.
After the FOB talks for New Jersey and Illinois were concluded in March 2022 at 63655 USD/MT and 73445 USD/MT, respectively, the Lactoflavin market in North America experienced an increase in price in Q1 2022. On the demand side, the healthcare sector had large offtakes throughout the quarter. In terms of supply, there were sufficient inventories to fulfill overall demand, as merchants stocked up ahead of the Asian festive season. The US nutraceutical industry remained in limbo during the first quarter due to prolonged port congestion and a disrupted supply chain from China due to the CNY holidays. On the other hand, the high level of lactoflavin intake in end-user pharma businesses offered a solid basis.
For the Fourth Quarter of 2021
Throughout the Asia Pacific region's fourth quarter of 2021, lactoflavin pricing trended higher. Prices in China increased significantly between October and December, rising from 51478 USD/MT FOB Qingdao to 56928 USD/MT FOB Qingdao. Offerings in the Chinese market grew as a result of rising raw material prices, supply constraints, and the predominant effect of the dual control on energy consumption policy. According to Indian traders, the Indian domestic market also saw a significant increase in Chinese vitamin imports, with CFR JNPT lactoflavin prices increasing from 52943.24 USD/MT to 53886.87 USD/MT in quarter 4 of 2021 as a result of the impact of power rationing and dual control on energy consumption. Significant financial support for lactoflavin prices in India was also supplied by skyrocketing raw material costs.
In the fourth quarter of 2021, market sentiments strengthened in the European market, owing to rising demand from downstream pharmaceutical sectors. Vitamin B2 supplies, on the other hand, remained affected throughout the fourth quarter due to the region's rising energy crisis. The rising cost of raw materials and the high cost of transportation all aided the price trend of Lactoflavin in Europe.
Lactoflavin prices continued to decline somewhat in the North American area during the fourth quarter of 2021. FOB prices in New Jersey and Illinois were 61559 USD/MT and 71400 USD/MT in the week ending December. In terms of demand, the nutraceutical and pharmaceutical industries maintained a steady level of offtakes throughout the quarter. The supply chain strengthened in the last weeks of November, providing an encouraging indication for market participants heading into the new year. Additionally, truck availability rose in Q4, ensuring that material transit across the United States was supported optimally. Prices were likely to fall in the first quarter of 2022 as supply fundamentals tighten and demand remains stagnant.
For First, Second and Third Quarters of 2021
Because raw material prices increased, all producers were expected to hike lactoflavin prices significantly before the Chinese New Year. After the Chinese Lunar New Year, prices remained constant, with the export price hovering at 13-14 USD/kg.
For the Year 2020
A Korean production line providing 80% Vitamin B2 decreased productivity, resulting in global supply shortages. Since the beginning of March, buyers of vitamin B2 on the spot market have paid a 15 % premium. The anticipated price per kilogram was USD 18.8, with the highest recorded price per kilogram being USD 19.7.
North America (the United States, Canada, and Mexico) was the greatest vitamin user in 2020, followed by Northeast Asia (including mainland China, Japan, South Korea, and Taiwan). The majority of worldwide vitamin intake consisted of vitamin C, vitamin E, vitamin B3, and vitamin B5. Vitamin C accounted for more than half of the demand. Due to the COVID-19 pandemic, the global use of vitamin C (mainly as nutritional supplements, but also in foods and drinks) increased in 2020. The major end use of vitamins in 2020 was animal feed, followed by supplements and medicines, food, and personal care products/other.
Procurement Resource provides latest prices of Lactoflavin. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Procurement Resource provides prices of Lactoflavin for several regions around the globe, which are as follows:
Lactoflavin, often known as vitamin B2, is a nutritional supplement and vitamin present in food. It is required for the synthesis of two important coenzymes, flavin mononucleotide and flavin adenine dinucleotide. These coenzymes are essential for energy metabolism, cellular respiration, antibody synthesis, and appropriate growth and development. Additionally, the coenzymes are essential for the metabolism of niacin, vitamin B6 and folate. Riboflavin is given to treat corneal thinning, and it may lower the occurrence of migraine headaches in adults if taken orally. its insufficiency is uncommon and is typically accompanied by other vitamin and mineral deficits.
Lactoflavin is produced through the fermentation of glucose. It is produced through a fermentation process using bacteria such as Corynebacterium ammoniagenes and Bacillus subtilis.
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
Procurement Resource also provides the detailed production cost analysis of Lactoflavin See more