China’s attempts to abide by safer food producion standards have had the unintended consequence of driving vitamin C prices higher. From CBS News:
China, which exports more than 80 percent of the world’s ascorbic acid ” also known as vitamin C and a key food preservative ” appears to have cut production over the past several months, pushing prices up by more than 200 percent to a four-year high.
The production cutback follows a Chinese government drive to enforce pollution limits on chemical and pharmaceutical companies, sources in the vitamin industry say. The four biggest Chinese vitamin C producers are also facing a price-fixing suit in a New York court. Since January, prices have risen from $3.40 a kilo to $11 a kilo, according to industry sources. [Full Text]
See also CDT’s coverage of China’s other vitamin exports.
