Vitamins China Monthly Report

China's vitamin market presented a "holiday effect" in Feb. 2024, since Spring Festival holiday was celebrated in this month. Before the holiday, downstream end users already finished stocking up by purchasing vitamins, plus the market inquiry and sales transactions basically stagnated. After the holiday, the transaction atmosphere somewhat rebounded, and the prices of most vitamin varieties remained strong. Market attention on VE and VB12 was rather heightened.

The Department of Food Safety Standards, Risk Surveillance and Assessment of NHC published the drafts of two national food safety standards for public comments, namely National Food Safety Standard—Food Nutritional Fortification Substance Vitamin K2 (Synthesis Method) and National Food Safety Standard—General Rules for the Foods for Special Medical Purpose. The public opinions soliciting ends on 29 Feb., 2024.

As of late Feb., seven listed enterprises that engage in vitamin business released their estimated results for 2023. Amongst the companies expecting financial losses, three reported losses in rather high degrees, including Yifan Pharmaceutical Co., Ltd., Brother Enterprises Holding Co., Ltd. and Hubei Guangji Pharmaceutical Co., Ltd.

News about several projects has been reported, including: Inner Mongolia Baiyi Pharmaceutical Co., Ltd.'s "technical renovation and upgrading project for active pharmaceutical ingredients (API) innovation base"; Guangdong Xinhengjian Biotechnology Co., Ltd.'s "63 t/a new biological medicines and 377.2 t/a nutritional supplements production lines project"; Phase I of Hwatson Biochem's vitamin base project; Inner Mongolia Xingyuan New Material Technology Co., Ltd.'s "800 t/a pharmaceutical and new material intermediates project"; Jiangxi Viablife Biopharmaceutical Co., Ltd.'s "reconstruction and expansion project for amino acid products".

The USD/CNY exchange rate in this Report is USD1.00=CNY7.1049, which was sourced from the People's Bank of China on 1 Feb., 2024. All the prices mentioned in this Report will include the VAT, unless otherwise specified.