Animal nutrition: Vitamin K3 price still on upward trajectory
The global price of Vitamin K3 MNB was declining until early this year when the price suddenly spiked by 63% in February 2020, said Glowlit.
The market intelligence platform is tracking significant interest in Vitamin K3 MNB which, it said, suggests a continued increase. Currently, the price is estimated at $16.5 per kg with the highest sale recorded reaching $17.3 per kg.
“Animal nutrition customers of K3 are victims of something happening entirely outside of their industry. Producers of K3 have another line of business - leather and tanning agents - that has now decreased, and so the price of K3 for animal nutrition has gone up to compensate for those losses.
“Two producers, in particular, Hubei Zhenhua Chemical Co, Ltd, and Brother Enterprises Holding Co, Ltd, have reduced their production capacity, and so they need to raise the price of K3 where there is still demand.
“It is a really interesting example of how two industries can share a single supply chain, and how this can impact price,” said Guy Soreq, founder, Glowlit.
We’re continuing to work with Glowlit to bring you weekly highlights on a selection of feed additives, so that readers can get a sneak peek at global price movement, but you can also head directly to that platform to see free price reports specific to your region.
Glowlit works by crowdsourcing market intelligence from industry professionals around the world. To get your price report, visit Glowlit and anonymously share a quoted or purchased price for your product of interest.
Along with the interesting developments around Vitamin K3 MNB prices, we are also sharing global insights into Vitamin A1000, and Vitamin E50 this week.
After a six-month decline globally, the spot price of Vitamin A1000 increased by 54% in February 2020. The price continues to climb upward, with the current price estimated at $108 per kg and the highest sale recorded reaching $113 per kg, reported Glowlit.
Vitamin A1000
Vitamin E50
Meanwhile, beginning in February of this year, spot buyers saw an increase of 60% in the global price of Vitamin E50. The current price is estimated at $9.6 per kg with the highest sale recorded reaching $11 per kg, according to Glowlit.
Price trends
Additionally, we’re sharing the latest price trend direction for some products available on the Glowlit platform.
