Vitamin China E-News 1508(12 issues per year)

Date: 2015-09

“Welcome to Vitamins China E-News 1508!

Two events were worthy of attention in this August.

On 11 Aug., 2015, the People鈥檚 Bank of China said in the statement it was now basing the RMB’s midpoint on exchange rate and improved exchange rate quotes. After that, RMB encountered depreciation. Until 28 Aug., the daily exchange rate for the Chinese currency was pegged at RMB6.3986 per dollar, compared with the exchange rate of 6.1162 on 10 Aug. The RMB devaluation will be beneficial for the exports of China’s bulk commodities, such as VE and VC.

In the evening of 12, Aug., 2015, the blasts rocked a warehouse storing hazardous chemicals in Tanggu Development Zone, Binhai New Area, Tianjin Municipality. This accident caused serious injuries and economic damage. Tianjin port, an important trade port of vitamin API, is temporarily closed. It鈥檚 estimated that vitamin exports will be affected in a short term.

In this month, some vitamin products presented price fluctuations. VE price decreased slightly over July. However, at the end of Aug., DSM raised the quotation for VE by 10% in the global market. Domestic manufacturer, Zhejiang NHU Co., Ltd., following suit, raised VE series prices by 10%. Due to low export price of China鈥檚 VE in H1, manufacturers increased price slightly since July. Considering domestic VE was oversupply, the price trend of VE is difficult to turnaround in a short term. In addition, VB9 (folic acid) underwent a sharp fall in Aug., after a continual high price. VB3 price and VB6 price continued to uptrend.

The USD/RMB exchange rate in this issue is USD1.00=RMB6.1169 on 3 August, 2015, sourced from the People’s Bank of China. All the prices mentioned in this report will include the VAT unless otherwise specified.”


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