Vitamin B1 Mono & Vitamin A 1000 - January 12th 2021
January 11, 2021
Author: Guy Soreq
Since the start of the COVID pandemic, shipping companies have sent their vessels on longer journeys while cancelling hundreds of sailings, greatly reducing available capacity. This has led to an unprecedented spike in shipping costs. Spot shipping rates for 40-foot containers jumped 23% in mid-December based on World Container Index data, tripling prices since the beginning of 2020. Shippers have been quoted rates above $10,000 from China to Europe. Companies are now increasing their stock in preparation for the Chinese New Year.
Buyers returning to the office (or the laptop at the kitchen table) following the holiday vacation were surprised to see quotes for Vitamin B1 Mono up by as much as a 40% increase. The price of Vitamin A 1000 increased as well, but to a lesser extent. Chinese producers are seeing their stocks diminish, and are revisiting their price offerings accordingly. Some buyers pressed for stock will be caught paying higher amounts, but it remains unclear whether we are seeing a mere stock increase in view of supply issues or an actual increase in demand.