Low demand for domestic feed, China's soybean meal market is weak and shrinking

Published 2024년 12월 26일

Tridge summary

The soybean meal market in China has seen a decline of nearly 7% since December 1, with the average market price dropping to 2800 yuan/ton on December 20, a decrease of 6.94% from the previous average price. This decline is due to an increase in the supply of soybeans, both imported and domestic, and weak demand from the terminal feed industry. The trend is expected to continue with a slight decrease in the future, according to an agricultural commodity analyst at SunSirs. The recent decline in domestic soybean meal prices is also attributed to lower pre-sale prices of South American soybeans compared to U.S. soybeans and lower import costs for South American soybeans.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to SunSirs monitoring data, the soybean meal market has been slightly declining since December 1, falling nearly 7%. On December 20, the average market price of soybean meal was 2814 yuan/ton, down 6.94%. Since December, the amount of imported soybeans arriving at the port continues to increase, the output of domestic soybean oil factories is increasing, the supply pressure is doubling, and the demand of the terminal feed industry is sluggish. The trading volume of the soybean meal market continues to decline, and the domestic soybean meal market continues to be weak and basically declines. As of December 20, the market price of soybean meal fell to 2800 yuan/ton, down more than 6%. An agricultural commodity analyst at SunSirs believes that multiple negative factors will continue to restrain the domestic soybean meal market, and the main trend in the future will be a slight decline. On December 20, the National Grain and Oil Information Center reported that the recent ...

Source: Oilworld