December 11, 2009

Australia's meat and bone meal cheaper in November

The price of Australian meat and bone meal averaged US$530 per tonne ex-works in November, down seven percent from the previous month, and down 13 percent year-on-year.

Prices fell as a result of subdued domestic buying and Indonesian demand was reportedly met by plentiful supplies of lower-priced product from the US.

Australian supplies are currently tight and this may become a bigger issue through the Christmas period if processors opt to close for extended periods. Prices are also expected to increase in the near future.