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December 6, 2008
 
China Methionine Weekly: New tainted eggs scandal affects buying activity (week ended Dec 5, 2008)
 
An eFeedLink Exclusive
 
 
Price summary
 
Prices were lower in most regions.
 
Quotes for dl-methionine in the general markets were at RMB50.00-51.00/kg. Overall, average transacted price (delivered-to-feed-mill) was RMB49.98/kg, down RMB1/kg compared with a week ago.

Liquid methionine* quotes in the general market had dropped to RMB40.00-41.50/kg while actual transacted prices (delivered-to-feed-mill) were at RMB39.50-41.00/kg.
 

Weekly transacted prices of dl-methionine in China

Area

Week 48

Week 49

Price change
(RMB/kg)

Nov 22 - Nov 28 (RMB/kg)

Nov 29 - Dec 5 (RMB/kg)

Guangzhou

50.30

49.50

-0.80

Chengdu

50.60

50.00

-0.60

Jinan

51.40

50.15

-1.25

Nanjing

51.30

50.00

-1.30

Shijiazhuang

51.00

50.00

-1.00

Zhengzhou

51.00

50.00

-1.00

Shenyang

51.25

50.20

-1.05

Beijing

51.00

50.00

-1.00

Prices refer to delivered-to-feedmill prices, and are for reference only.
       

Weekly transacted prices of liquid methionine* in China

Area

Week 48

Week 49

Price change
(RMB/kg)

Nov 22 - Nov 28 (RMB/kg)

Nov 29 - Dec 5 (RMB/kg)

North

44.50

43.50

-1.00

Central

44.00

43.00

-1.00

South

43.50

42.50

-1.00

Prices refer to delivered-to-feedmill prices, and are for reference only.
RMB1=US$0.1454 (Dec 6, 2008)
 
 
Global markets
 
In Europe, methionine supplies were relatively tight with spot prices at Euro4.65-4.80/kg. Price quote by one producer for 1Q 2009 was at Euro4.50-4.65/kg, with large quantity transactions lower at Euro4.40-4.45/kg.
 
 
Market analysis
 
Although broiler and hog feed consumption in China improved over the week, demand for methionine remained sluggish.

Feed millers were concerned that layer feed demand would worsen as eggs from a producer in Jilin was reported to be contaminated by melamine this week.

Meanwhile, methionine prices are under pressure as crude oil prices fell to new low levels.
 
 
Market forecast
 
China's methionine prices are likely to decline further as demand remains weak.
 
 
*Commonly referred to in China as liquid methionine is methionine hydroxyl analogue, a liquid source of supplemental methionine.


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