The move is a response to Mitsubishi Gas Chemical's withdrawal from the CoQ10 market.
Kaneka Nutrients (Pasadena, TX) is increasing the price of its coenzyme Q10 (CoQ10 or ubiquinone) ingredients by 10%, effective mid-January 2013.
While Kaneka cites rising raw material costs and growing demand for CoQ10 products as reasons for the increase, Kaneka says the price hike is also a response to Mitsubishi Gas Chemical’s future withdrawal from the CoQ10 market, which will shift approximately 15 to 20 metric tons of CoQ10 volume to other suppliers. Mitsubishi Gas Chemical says it will exit the market in March 2013.
“We have seen a decisive upward trend in the price of CoQ10 over the past 18 months,” says Richard Weis, Kaneka vice president of sales and marketing. “Although Kaneka regrets any increase in price to its customers, mounting stressors on margin and supply have necessitated that we follow the market up.”
Kaneka Nutrients is the only CoQ10 manufacturer in the United States and Japan.