The big industry story this week has to do with congestion at one of China’s biggest container ports – Shenzen’s Yantian port in southern China. After a flare-up in coronavirus cases reported in Guangdong province, the port has implemented more stringent disinfection measures causing a backlog of vessels. Meanwhile, news agencies are also reporting supply issues coming out of production facilities. The data coming from Glowlit, however, paints a somewhat different picture.
The Glowlit user community, made up of buyers and sellers from across the entire animal feed supply chain, shows that demand is not quite meeting the expectations previously set forth by the industry. We see this in a variety of ways, including user behavior on the platform, changes in price, as well as conversations with individual users. The bottom line is this: if these widely reported challenges in supply were met with strong demand, we would expect to see significantly higher prices.
So what gives? The news is designed to follow the story, and so industry publications naturally favor reporting on the supply side of the market. That’s where the big stories are. But these stories don’t give us the full picture without the tedious work of checking prices day by day or week by week. That is where Glowlit comes in. When paired with the automation of the Glowlit algorithm, the Glowlit community becomes a powerful force for demand side market intelligence. So while we may not bring you the most captivating clickable stories, we do give you the data you need to get your work done.
Here are some of the most significant market trends identified by Glowlit in the last week:
Is Market Demand Driving Changes in Vitamin B12?
The global price of Vitamin B12 has decreased by 26% since last week, triggering a unique activity notification to the Glowlit community. Glowlit has also seen a decrease in the number of entries from last week to this week. With corn acting as a major influencer on supply, and the price of corn continuously high, we can assume that the decrease in B12 price is due to changes in market demand. As a reminder, just over two years ago in February 2018, the price of Vitamin B12 stood at 92.1 USD, nearly 4.5 times higher than what it is today.
Benchmark your Vitamin B12 1% price to see a complete report
Supply and Demand Sides of the Market Tell Different Stories for Niacinamide
The global price of Vitamin B3 Niacinamide has decreased by 6.2% since last week. Glowlit has also seen a 8.7% decrease in the number of entries from last week to this week. So far we see a disconnect from what is being reported from the supply side of the market. Last week, on June 11, Brother Enterprises reported raising the price of Niacinamide due to increases in the prices of necessary raw materials. In October 2018, the global price of Vitamin B3 Niacinamide stood at 3.82 USD, approximately 60% of the price today.
Benchmark your Vitamin B3 price to see a complete report