CCM: Minfeng Chemical’s VK3 exported to EU for the first time 07-27-2016

In March 2016, Chongqing Minfeng Chemical Industry Co., Ltd. (Minfeng Chemical) exported its vitamin K3 (VK3) to EU for the first time. Specifically, altogether 15 tonnes of VK3 were exported to Germany through the Eurasia International Railway after the inspection and quarantine in Yongchuan District, Chongqing Municipality.

"This railway will be our first choice," said Minfeng Chemical, "It can save more than 36 days, compared with shipping."

Founded in 1950, Minfeng Chemical is one of the main domestic VK3 producers (500 t/a). However, it cannot be comparable to leading enterprises, like Brother Enterprises Holding Co., Ltd. (Brother Enterprises, 3,000 t/a) and Peace Chemical & Industry Co., Ltd. (1,300 t/a).

Minfeng Chemical's export to Germany (leading export destination for VK3 from China, 10%+ of the national total) will be favorable for its expansion in overseas market.

At present, competition in domestic VK3 market becomes more intense, as more new producers got in and existing companies expanded their production capacity.

This also led to the decentralization of production. Notably, Brother Enterprises, the largest domestic vitamin maker, is also developing the domestic VK3 market, while expanding sales in regions with low market share, like South and North America.

Sodium bichromate, a main raw material for VK3, takes up a large part in the production cost. The production of one tonne of VK3 needs 10 tonnes of sodium bichromate. Since 2012, the market price of sodium bichromate has gradually gone down, lowering the production cost of VK3 to some extent.

Monthly market price of MSB 96% feed grade vitamin K3 in China, Jan. 2015-March 2016

Source: CCM

This article comes from Vitamins China E-News 1604, CCM


About CCM:

CCM is the leading market intelligence provider for China’s agriculture, chemicals, food & ingredients and life science markets. Founded in 2001, CCM offers a range of data and content solutions, from price and trade data to industry newsletters and customized market research reports. Our clients include Monsanto, DuPont, Shell, Bayer, and Syngenta. CCM is a brand of Kcomber Inc.


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Tag: vitamin   VK3


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