North America

The Vitamin D Prices remained bullish during the first quarter of 2023, with CFR prices in New Jersey ending up at $15800 per MT in January and $16200 per MT in March, respectively. Industry players had predicted that the pharmaceutical and nutraceuticals industries would continue to sail through mixed sentiments during the first quarter of 2023 as a result of the market turbulence in the previous quarter. However, consistent end-user demand and moderate inquiries from downstream providers kept the market dynamics in check. The first half of the quarter benefited from China's easing of its zero-covid ban since the supply chain and trade remained healthy, which led to a decrease in freight costs. 

Asia Pacific

In the Asia Pacific region, China's decision to abolish the severe COVID-19 limitations in the first week of January gave the trillion-dollar economy in the Asia Pacific region—China—new vitality after it had suffered significantly over the previous four years. China thus saw a marginally favorable first quarter of 2023. The FOB Shanghai pricing trend in the domestic Chinese market showed minimal change in the first quarter of 2023, with prices stabilizing at $10485 per MT in January and $10740 per MT in March. The price of Vitamin D in the domestic market for nutraceuticals and pharmaceuticals saw a roll-over sentiment for two consecutive weeks in January after a week-long Lunar vacation. The second part of the quarter's rise in market activity in China can be largely ascribed to low inventories and high demand. 


The pharmaceutical and nutraceutical industries in Europe got off to a good start thanks to an increase in orders and shipments from both domestic and international markets during the first quarter. Prices for Vitamin D increased during the first quarter of 2023, rising from $12150/MT in January to $12340/MT in March. Participants in the local market saw successful arbitrage for the majority of this quarter since the outlook for supply and demand seemed bright. While the European market showed promising signs, the surprise reopening of China's COVID and the protracted crisis between Russia and Ukraine reduced inflation pressures. An improvement in end-user demand from both producers and suppliers allowed for a quick rebound in activity, which was further supported by this.

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