December 30, 2013
Methionine prices surge in China despite sharp rise in import
Prices of methionine rose strongly during the week ending December 29.
Even though China's methionine imports increased sharply by 34% during November, the availability of the product was insufficient to meet surging demand as livestock feed consumption expanded significantly due to the upcoming Chinese New Year.
Price quotes of imported dl-methionine rose prominently by RMB1-6/kg to the range of RMB30-35/kg.
In the coming weeks, livestock producers will continue to fatten animals for release prior to Chinese New Year. Demand for methionine will therefore be strong, supporting more price hikes.
RMB1=US$0.1649 (Dec 30)
All rights reserved. No part of the report may be reproduced without permission from eFeedLink.
