The state will suspend some project construction with investment restrictions. The results of a recent joint survey conducted by the National Development and Reform Commission and the Ministry of Industry and Information Technology show that from 2010 to 2012, even if the supply is global, half of domestic vitamin C production capacity will be useless.
It is understood that since 2008, vitamin C exports have entered a period of high operating. According to statistics from the China Chamber of Commerce for Import and Export of Medicines and Health Products, the market price of vitamin C in 2008 was once as high as 140 yuan/kg (about 23 US dollars/kg). From January to September of this year, the export of vitamin C and its derivatives accumulated to 60,958 tons, a year-on-year decrease of 8.21%; the export amount was 626 million US dollars, an increase of 11.39%; the export price was 10.27 US dollars/kg, an increase of 21.35%. The monthly statistics for October showed that China's vitamin C export volume was 4,223 tons, which fell further from the previous quarter, but the price remained stable and the unit price remained at US$10 per kilogram. According to industry sources, the demand for vitamin C has shrunk significantly. The launch of new projects and expansion of production should be particularly cautious.
According to the statistics of the US Department of Commerce, China's vitamin C APIs exported to the United States account for more than 80% of the total US imports. Since the second half of 2008, vitamin C prices have continued to rise, and this is the main reason for attracting funds into the vitamin C industry. The long-term expectation of vitamin C prices is also the main reason for the current approval of some local governments and enterprises and the construction of new vitamin C raw material drug production projects. Henan Huaxing Pharmaceutical Factory, Mudanjiang Hi-Tech Biochemical Co., Ltd., Shandong Tianli Pharmaceutical Co., Ltd., Shandong Runxin Fine Chemicals Co., Ltd., Anhui Tiger Biotech Co., Ltd. and other companies have all launched or expanded their vitamin C projects.
The National Development and Reform Commission stated that in recent years, some local governments and enterprises have built, under construction, and proposed a total capacity of more than 80,000 tons of vitamin C. It is expected that by the end of 2010, the production capacity of vitamin C will be close to 180,000 tons, and in 2012 it will exceed 200,000 tons. At present, the consumption of vitamin C in the world is only about 100,000 tons, while that in China is about 20,000 tons. The growth rate of production capacity is much higher than the increase in demand. If the project of building new vitamin C production capacity continues, China's vitamin C production capacity will exceed the global demand by nearly 1 times, and it will inevitably lead to vicious competition in the market. It will be repeated that the prices of vitamin C that have appeared many times in the past are far below the grim situation of production costs. Therefore, the state will start by restricting investment and suspend some new projects.
It is understood that since 2008, vitamin C exports have entered a period of high operating. According to statistics from the China Chamber of Commerce for Import and Export of Medicines and Health Products, the market price of vitamin C in 2008 was once as high as 140 yuan/kg (about 23 US dollars/kg). From January to September of this year, the export of vitamin C and its derivatives accumulated to 60,958 tons, a year-on-year decrease of 8.21%; the export amount was 626 million US dollars, an increase of 11.39%; the export price was 10.27 US dollars/kg, an increase of 21.35%. The monthly statistics for October showed that China's vitamin C export volume was 4,223 tons, which fell further from the previous quarter, but the price remained stable and the unit price remained at US$10 per kilogram. According to industry sources, the demand for vitamin C has shrunk significantly. The launch of new projects and expansion of production should be particularly cautious.
According to the statistics of the US Department of Commerce, China's vitamin C APIs exported to the United States account for more than 80% of the total US imports. Since the second half of 2008, vitamin C prices have continued to rise, and this is the main reason for attracting funds into the vitamin C industry. The long-term expectation of vitamin C prices is also the main reason for the current approval of some local governments and enterprises and the construction of new vitamin C raw material drug production projects. Henan Huaxing Pharmaceutical Factory, Mudanjiang Hi-Tech Biochemical Co., Ltd., Shandong Tianli Pharmaceutical Co., Ltd., Shandong Runxin Fine Chemicals Co., Ltd., Anhui Tiger Biotech Co., Ltd. and other companies have all launched or expanded their vitamin C projects.
The National Development and Reform Commission stated that in recent years, some local governments and enterprises have built, under construction, and proposed a total capacity of more than 80,000 tons of vitamin C. It is expected that by the end of 2010, the production capacity of vitamin C will be close to 180,000 tons, and in 2012 it will exceed 200,000 tons. At present, the consumption of vitamin C in the world is only about 100,000 tons, while that in China is about 20,000 tons. The growth rate of production capacity is much higher than the increase in demand. If the project of building new vitamin C production capacity continues, China's vitamin C production capacity will exceed the global demand by nearly 1 times, and it will inevitably lead to vicious competition in the market. It will be repeated that the prices of vitamin C that have appeared many times in the past are far below the grim situation of production costs. Therefore, the state will start by restricting investment and suspend some new projects.
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