Australia's Vitamin Price Falls Rapidly to $2,605 per Ton, Fluctuating Wildly over 2022

Australia Vitamin Export Price in November 2022

In November 2022, the vitamin price stood at $2,605 per ton (FOB, Australia), declining by -91.2% against the previous month. Overall, the export price recorded a precipitous descent. The most prominent rate of growth was recorded in October 2022 an increase of 36% against the previous month. The export price peaked at $36,632 per ton in February 2022; however, from March 2022 to November 2022, the export prices stood at a somewhat lower figure.

There were significant differences in the average prices for the major overseas markets. In November 2022, the country with the highest price was Malaysia ($27,223 per ton), while the average price for exports to China ($2,110 per ton) was amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was recorded for supplies to Malaysia (+6.4%), while the prices for the other major destinations experienced more modest paces of growth.

Australia Vitamin Export Prices by Type

Prices varied noticeably by the product type; the product with the highest price was vitamins; vitamin b12 and its derivatives, unmixed ($94.2 per kg), while the average price for exports of vitamins; n.e.s. in heading no. 2936, including natural concentrates ($901 per ton) was amongst the lowest.

From January 2022 to November 2022, the most notable rate of growth in terms of prices was recorded for the following types: vitamins; d- or DL-pantothenic acid (vitamin b3 or vitamin b5) and its derivatives, unmixed (+32.2%), while the prices for the other products experienced mixed trend patterns.

Australia Vitamin Exports

Vitamin exports from Australia surged to 14K tons in November 2022, rising by 844% against the previous month. Over the period under review, exports recorded a significant increase. As a result, the exports attained the peak and are likely to continue growth in the immediate term.

In value terms, vitamin exports dropped remarkably to $38M (IndexBox estimates) in November 2022. In general, total exports indicated a temperate increase from January 2022 to November 2022: its value increased at an average monthly rate of +3.2% over the last ten-month period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on November 2022 figures, exports decreased by -25.3% against September 2022 indices. The pace of growth appeared the most rapid in September 2022 when exports increased by 46% m-o-m. As a result, the exports reached the peak of $50M. From October 2022 to November 2022, the growth of the exports remained at a lower figure.

Australia Vitamin Exports by Type

Vitamins; n.e.s. in heading no. 2936, including natural concentrates (14K tons) was the largest type of vitamin exported from Australia, with a 95% share of total exports. Moreover, vitamins; n.e.s. in heading no. 2936, including natural concentrates exceeded the volume of the second product type, vitamins; n.e.s. in item no. 2936.2, and their derivatives, unmixed (636 tons), more than tenfold. The third position in this ranking was taken by vitamins; vitamins a and their derivatives, unmixed (91 tons), with a 0.6% share.

From January 2022 to November 2022, the average monthly rate of growth in terms of the volume of export of vitamins; n.e.s. in heading no. 2936, including natural concentrates amounted to +48.8%. With regard to the other exported products, the following average monthly rates of growth were recorded: vitamins; n.e.s. in item no. 2936.2, and their derivatives, unmixed (+6.4% per month) and vitamins; vitamins a and their derivatives, unmixed (-1.4% per month).

In value terms, vitamins; n.e.s. in item no. 2936.2, and their derivatives, unmixed ($24M), vitamins; n.e.s. in heading no. 2936, including natural concentrates ($12M) and vitamins; vitamins a and their derivatives, unmixed ($1.3M) were the most exported types of provitamins and vitamins from Australia worldwide, with a combined 99% share of total exports. These products were followed by vitamins; vitamin c and its derivatives, unmixed, vitamins; vitamin b12 and its derivatives, unmixed, vitamins; vitamin b6 and its derivatives, unmixed, vitamins; vitamin e and its derivatives, unmixed and vitamins; vitamin b2 and its derivatives, unmixed, which together accounted for a further 1.3%.

Vitamins; vitamin e and its derivatives, unmixed, with a CAGR of +109.9%, recorded the highest growth rate of the value of exports, in terms of the main product categories over the period under review, while shipments for the other products experienced more modest paces of growth.

Australia Vitamin Exports by Country

China (14K tons) was the main destination for vitamin exports from Australia, accounting for a 98% share of total exports. It was followed by Indonesia (80 tons), with a 0.6% share of total exports. Thailand (51 tons) ranked third in terms of total exports with a 0.4% share.

From January 2022 to November 2022, the average monthly growth rate of volume to China stood at +42.6%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Indonesia (+0.2% per month) and Thailand (-9.5% per month).

In value terms, China ($30M) remains the key foreign market for vitamin exports from Australia, comprising 79% of total exports. The second position in the ranking was taken by Thailand ($1.2M), with a 3.3% share of total exports. It was followed by Malaysia, with a 1.7% share.

From January 2022 to November 2022, the average monthly rate of growth in terms of value to China stood at +7.0%. Exports to the other major destinations recorded the following average monthly rates of exports growth: Thailand (-6.6% per month) and Malaysia (-7.0% per month).

Vitamin Market Overview

The vitamin market in Australia is a booming industry with many different factors at play. The main factors driving this growth are the increasing health consciousness of the population, the rising disposable incomes, and the favourable demographics.

The climate and soil of Australia are perfect for growing a variety of fruits and vegetables, which are then used to create vitamins and supplements. The Australian government also provides a lot of funding for research and development in the vitamin industry, which has led to many new and innovative products being released onto the market.

There are a wide variety of vitamins and supplements available on the Australian market, catering to all different needs and budgets. Vitamins A, B, and C are some of the most popular vitamins sold in Australia, as they are essential for maintaining good health. Vitamin D is also becoming increasingly popular, as it is essential for bone health. There is a growing demand for vitamins and supplements that target specific health concerns, such as heart health or joint pain, and this is where many companies are focusing their efforts.

Source: IndexBox Market Intelligence Platform