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July 10, 2015

 

China's stock market bust leads to falling shares of eggs and soymeal
 

 

China's commodities markets are rattled by the country's current stock market bust, with everything including eggs and soymeal plummeting to a three-month low in shares this week, Bloomberg reported. 

 

As official measures failed to prevent the recent crash, a selling frenzy had erupted over fears that the Chinese economy might mired further in a dire situation, said a trader with private asset-management company Guoyun Investment Co. in Beijing.

 

"Agricultural products, in my view, (suffer) collateral damages in this selloff," according to Liang Ruian, a fund manager with Shanghai-based Jianfeng Asset Management Co.

 

Ivan Szpakowski, a commodities strategist at Citigroup Inc., explained that the selloff was triggered by withdrawing stocks, but is not "reflective of a deterioration in economic growth or commodity demand". Rather, the market had witnessed a fall in sentiment and "spillover from the equities market," Szpakowski added. 

 

China, the world biggest consumer of grains, has seen a slow economic growth, thus leading to some cooling of commodity prices in 2015.

 

Moreover, the Bloomberg Commodities Index, which monitors 22 raw materials, showed a drop of more than 6% this year.

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