Kaneka Q10 Price Increases

PASADENA, TexasKaneka announced it increased the price of its co-enzyme Q10 (CoQ10) ingredient due to the continued escalation in the price of raw materials and increases in international and domestic transportation costs. Kaneka said the 10-percent across-the-board price increase on Kaneka Q10 will be effective April 1, 2011.

Following a two-year run-up of corn prices by 200 percent, coupled with USDA predictions of another poor crop in 2011, the company said corn derivatives have increased dramatically. It also said transportation costs have increased by 25 percent since 2009.

The company further said it is facing pressure from an increased supply from Chinese CoQ10 manufacturers. Current price levels are artificially low and unsustainable based upon full manufacturing costs for the long term," the company said in a press release.