Prices continue to escalate as suppliers come under pressure from the effects of high oil prices and increased demand for natural oils.
Vitamin price increases extended
DSM announced yesterday its decision to increase the prices of all its fat soluble vitamins by a minimum of 10 per cent yesterday after restricting previous increases to Vitamin A and E.
The company said higher costs of raw materials, energy and transportation lay behind the latest move.
Ingredients providers are finding that they need to repeatedly increase their prices to keep up with their ever increasing costs.
Croda for instance announced two weeks ago that higher natural feedstock costs had forced it to implement price increases across its Cromamide range of polymer additives for the plastics packaging market.
The specialty chemicals firm had already reported earlier in the year that the average price of its products increased 12.3 per cent in 2007.
Natural oil prices almost double
In the latest announcement Croda said the price of natural oils was increasing at a particularly high rate having almost doubled in the last 12 months.
Statfold Seed Oil director Julie Noon told CosmeticsDesign.com the company had also endured price hikes in this market and had been forced to pass some of its higher costs onto cosmetics manufacturers.
Noon said the price of vegetable raw materials such as sunflower oil and coconut oil had had almost doubled over the past year.
Buying directly from growers and developing close relationships with them is the best way we have found to mitigate against the price increases, added Noon.
