Vitamin markets saw widespread weakness in May, with vitamins A and E trending lower across all major regions. In Europe, vitamin E fell to €12.75/kg, a nine-month low, amid slow demand and two-tier pricing. Asian markets also declined, driven by low global demand and oversupply concerns following BASF’s return to the market and announced summer maintenance schedules. In North America, uncertainty around tariffs and buyers holding off purchases amid high inventories caused most vitamins to drift lower. South American prices also declined, except for vitamin B2 and B3, with market activity slowing due to avian influenza-related uncertainty and its potential impact on poultry exports.
Asia
Most vitamins showed a weak trend in Asia during the month of May. Prices for vitamins A, E, D3, D-Calpan, B1, B2, B3, B12, and choline chloride all declined. Biotin prices held stable due to low market activity. Global demand was reported as low, with purchasing activity negatively impacted by uncertainty surrounding Trump’s tariffs.
Both ZMC and dsm-firmenich have announced summer maintenance shutdowns for their vitamin E plants. Sources indicated that vitamins A and E were trending weakly due to BASF re-entering the market, with participants expecting increased supply.
It was noted that most transactions for D3 were carried out by traders, while large producers were not offering material. D-Calpan sentiment is weak following Xinfu’s mid-May announcement of a price cut to CNY 45.00/kg (equivalent to $5.50/kg export), which is CNY 4.00/kg below previous transaction levels.
An unplanned but temporary production halt reportedly occurred over the weekend of May 18 at Arxada AG’s niacin (vitamin B3) manufacturing site in Visp, Switzerland. According to Expana´s Supply and Demand Pro Service (customer access only), the site produces about 20% of global vitamin B3 supply. Vitamin B3 for dsm-firmenich, Arxada’s long-term partner (customer access only), is also produced at the Visp site.
Europe
Volatility has dominated vitamin A and E markets in Europe during May with a clear downside trend for both products. Vitamin E prices finished May at a midpoint of €12.75/kg, their lowest level in 9 months.The European vitamin market remained quiet with slow buying across most products. A two-tier pricing trend and volatility were noted for vitamins A and E, with costs dependent on destination and volume. Cheaper product was limited and plant shutdowns due in Q3 were likely to drive prices in the coming weeks, sources have said. A largely stable trend was seen for other vitamins, with wider ranges reported for vitamins B12, D3 and Choline Chloride.
North America
The US vitamin market remained sluggish in May, with weak demand, ample supply and growing uncertainty around trade policy. Most vitamins drifted lower amid light buying and high inventories. Vitamin A was reported at $29.00–33.00/kg as prices slid in China and Europe. Vitamin E softened to $15.00–16.50/kg. Vitamin D3 remained firm near $40.00/kg, but market activity was minimal. B vitamins and choline chloride saw flat to weaker pricing. US buyers were cautious about D-Calpan, while biotin and B12 remained stable at low levels.Buyers largely stayed on the sidelines, waiting for clarity on tariffs and replacement costs. Sources said many feed and premix companies were still working through inventory booked last year. Despite production cuts and summer shutdowns, sentiment remained bearish as traders braced for more volatility heading into Q3.
Tariff confusion escalated at the end of the month after two court rulings challenged the legality of the Trump administration’s reciprocal and fentanyl tariffs, creating fresh risk for importers. Meanwhile, spot freight rates from China jumped as much as 38%, putting pressure on delivered Q3 prices.
South America
Vitamin prices in Brazil moved lower through May, with all products showing price declines except for vitamin B2 and B3, which rose by approximately 4% and 5%, respectively. Market activity eased in the second half of the month, driven in part by growing uncertainty around downstream demand. A recent outbreak of avian influenza at a Brazilian commercial poultry processing unit (customer access only) was cited as a contributing factor, leading buyers to adopt shorter purchasing horizons while awaiting further clarity on poultry export bans.
Find out more about Expana’s Animal Feed Additive coverage here.
Co-authored by:
Karolina Zagrodna
Expana
[email protected]
Heather McGuire Doyle
Expana
[email protected]
Elliot Holgate
Expana
[email protected]
Image source: Shutterstock
Written by Lydia Ma
