BASF hikes vitamin A prices by 20%
The company said the changes would take immediate effect, while adding existing contractual obligations would not be affected.
"The price increase reflects the global demand and supply situation for vitamin A in the market," Raga Mahmoud, global communications spokesperson for the company's nutrition and health unit, told us.
Mahmoud declined to give further details on its internal pricing processes and decisions but confirmed that its vitamin A products were produced in the BASF production plant in Ludwigshafen, Germany.
She said the last time the price of vitamin A was increased was back in 2013, but declined to comment on plans for future price increases for vitamin A or any of its other vitamins and minerals.
BASF produces vitamin A for the animal and human nutrition industries as well as the cosmetic industry.
The move follows price increases elsewhere in the company's chemical portfolio for MDI (Methylene Diphenyl Diisocyanate) and TDI (Toluene Diisocyanate) in certain regions last month.
Basic product prices would increase by $100 (€89) per metric tonne, which it said would help restore prices to a "sustainable level".