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November 6, 2008

 

China Whey Weekly: No improvement in prices amid lacklustre demand (Nov 5, 2008)

 

An eFeedLink Exclusive
 

 

Price summary
 

Prices were stable in most regions.

 

Weekly port transaction prices of whey in China

Specification

Country/Brand

Protein content (%)

Price as of
Oct 28 (RMB/tonne)
Price as of
Nov 5 (RMB/tonne)

Price Changes (RMB/tonne)

Remark

Low protein

USA/AGRIMARK

3

4,400  

4,400

0 

Limited stock

USA/CPI

3

4,500  

4,500

0

- 

USA/Land O'Lakes

3

4,400  

4,400

0

- 

Canada/Maple Leaf

3

-

-

-

Out of stock

France/BBA

3

-

-

-

Limited stock

Netherlands/ Volac

3

-

-

-

Out of stock

USA/Foremost

3

4,300  

4,300

0

-

Medium protein

USA/DAVISCO

6

5,200   

5,200 

0

-

Canada/Crino

7.5

- 

- 

- 

Out of stock

High protein

USA/DAVISCO

11

6,400  

6,000

-400

-

USA/F&A 

11 

6,800   

6,500 

-300 

-

France/DAOU

10

6,500  

6,500 

0

Out of stock

Ukraine

11

6,500  

6,500 

0

Limited stock 

Australia/MG

12

10,000

10,000

0

-

Prices refer to port transaction prices for bulk purchases in Dalian, Shanghai, Guangzhou, etc, and are for reference only.
RMB1=US$0.1464 (Nov 6)

 
 

Suppliers' quotes

 

Demand for whey fell as the global economic crisis spread while the US dollar strengthened. Anticipating that the situation would worsen, market players lowered their bidding prices when seeking supplies. With inventories in the US remaining high, prices of US low-protein feed-grade whey maintained at US$440/tonne.

 
 

Market analysis
 

Whey prices in China failed to improve as feed demand remained weak amid the tainted egg scandal. Buyers exercised great caution and procured minimal volumes to reduce inventory carrying costs in such uncertain times.


Supplies were ample in the south but tighter in northern China.

 
 

Market forecast

 

Near-term whey prices are seen stable amid sluggish demand and ample supplies.
 
Remarks: Prices refer to port transaction prices of low-protein whey and are for reference only.
 
Remarks: Prices refer to CIF China price quotes (US-Dollar) of low-protein whey and are for reference only.
 
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