Pasadena, TX (PRWEB) February 28, 2011
In response to the continued escalation in the price of raw materials used in the production of KanekaQ10™ (Co-enzyme Q10), as well as increases in international and domestic transportation costs, Kaneka will implement a 10% across the board price increase on Kaneka Q10™ effective April 1st, 2011.
Following a 2 year run-up of corn prices by 200%, coupled with USDA predictions of another poor crop in 2011, corn derivatives have increased dramatically and trickle down effects will be felt throughout industry. Transportation costs have increased greatly as well, up 25% since 2009.
CoQ10 pricing is now at an all-time low, due to increased supply from China and downward pressure from those manufacturers to gain market share. Current price levels are artificially low and unsustainable based upon full manufacturing costs for the long term. Kaneka has always been, and will continue to be, the stabilizing force in the global CoQ10 market, providing the industry standard in manufacturing and sustainable, fair pricing.