Vitamin B12 Prices Trend in the second quarter of 2023 | ChemAnalyst

Chemanalyst13 Sep, 2023Business

The Vitamin B12 (Cyanocobalamin) market in North America exhibited a rising price trend during the second quarter of 2023. Price negotiations for CFR Los Angeles surged from $1,830,500 per metric ton to $1,870,900 per metric ton between April '23 and June '23, marking a significant increase of 2.2% over the quarter. This uptick in prices was propelled by a notable surge in demand for Vitamin B12 across the nation, particularly at the beginning of May, following a somewhat eased inflation rate at the end of Q1 2023. Although energy prices saw a decline, underlying inflation remained notably higher, exceeding the Federal Reserve's target, according to industry experts. Despite mixed sentiments in vitamin prices, the nutraceuticals market in the country displayed distinct patterns.