Market overview: The explosion of BASF's German plant has had a multi-faceted impact on the vitamin industry, mainly including the following points: 1. Tight supply: The plant is one of the key production sites for global vitamin giant BASF, which produces aroma ingredients and precursors for vitamin A, vitamin E and carotenoid production. After the explosion, BASF declared force majeure on the delivery of some vitamins and aromatic components, and the production of A series of products was interrupted, which caused the supply of vitamins A, vitamin E, vitamin B2 and other products to be affected.

2.Price rise: Due to the tightening of supply, the market has triggered concerns about the supply of vitamin products, and the price of some domestic vitamin products has risen significantly. According to data from Baichuan Yinfu, the reference transaction price of vitamin A (VA) rose to 180-190 yuan/kg on August 6, and vitamin E (VE) rose to 120-130 yuan/kg. Before this, on August 1, the vitamin A market reference transaction price had risen to 170-180 yuan/kg, compared with July 30, an increase of more than 73%; The market price of vitamin E on August 1 was 115 yuan/kg, which was also about 20% higher than that on July 30. The prices of other varieties such as vitamin D3 and vitamin K3 have also risen to varying degrees. 3. Industry boom: The original vitamin industry destocking cycle is nearing an end, superimposed downstream demand is expected to improve marginal, and the BASF factory explosion further promoted the industry boom. Vitamin products are widely used in feed, medicine, cosmetics and food and beverage fields, with the end of the inventory cycle of overseas customers, vitamin export demand significantly improved. In addition, the profitable rehabilitation of the aquaculture industry and the rise in the prices of some raw materials also provide a positive background for the development of the vitamin industry. Basf is one of the world's leading producers of vitamin products, and the explosion at its German factory has had a major impact on supply and prices in the global vitamin market. However, market conditions may change over time and it is recommended to keep an eye on relevant developments.