December 20, 2010

China's November soy prices stable

China's soy purchase price pulled back alongside the decline of the soy price on international market and the government's strengthening of macro control in November.

Since July, an over-surge in international soy prices has dramatically pushed up the purchase price for soy in China.

Last month, the primary take-in price for soy stood at RMB3,800-3,900 (US$570-$585)/tonne in the oil plants in Helongjiang Province, a major soy production base located in Northeast China.

Besides, China's cooking oil price fluctuated within a narrow range in late November, bidding farewell to the rally since mid 2010.
 

Latest data on November 30 shows that prices for A-class soyoil in coastal cities across China were at RMB9,400-9,500 (US$1,411-$1,426)/tonne, basically flat with figure at the end of October.