This week's price trends from Glowlit - November 23rd 2020
November 23, 2020
Author: Guy Soreq
Vitamin C 99%
For the third consecutive week, Glowlit has seen a double digit increase in the price of Vitamin C 99% as we head into the heating season. The “heating season” refers to a period of time each year when central heating systems are switched on to provide heat to local residences in Northern China. During this time, as operation costs increase during the colder months, production capacity is reduced and customers are served from existing stock.
Distillers Dried Grains with Solubles (DDGS)
United States-based DDGS prices are slightly lower this month with buyers having secured their near-term needs and spot markets quieting. Meanwhile, soymeal prices continue to climb upwards. With deals closed ahead of Thanksgiving, we’re waiting to see how DDGS demand responds to the increase in soymeal prices as buyers return after the holiday.
We’re used to seeing the demand for tryptophan increase ahead of Thanksgiving as turkeys fly off the grocery store shelves...a bit of Glowlit humor for you. This year, we may also see an increase in the demand for tryptophan (and other amino acids) after Thanksgiving if demand for DDGS increases amidst rising soymeal prices. On average, soymeal has tryptophan content of .63%, while DDGS has 0.21%. Additionally, as Chinese pig production recovers we can expect to continue seeing upward pressure on the price of tryptophan.