BASF hikes vitamin B2 price 20%
BASF tells us its 20% vitamin B2 (riboflavin) price hike is due to “rising demand” across human and animal nutrition, but gave no further data on the significant jump.
The new pricing will not affect existing contracts for the nutrient produced via fermentation at its plant in Gunsan, South Korea.
Spokesperson Christine Haupt told us the new pricing was down to “market conditions” and would ensure, “high quality production”.
"As Vitamin B2 is an essential micronutrient playing an important role for growth and development for humans and animals, the demand shows a moderate but constant growth," Haupt said.
The German chemicals and ingredient giant last hiked the price of vitamin B2 two years ago.
Then a 10% increase was attributed to, “increases in raw material prices (e.g. crude soy bean oil due to drought) and to be able to continuously supply customers with products and services of highest quality."
