March 29, 2022
China Soymeal: Prices surge 46% in Q1 (week ended Mar 28, 2022)
Over the week, the closing price of CBOT May soy futures increased 2.5%.
Tight availability, soaring soy import costs, which stimulated stockpiling demand, continued to push up the prices of soymeal in China. During the first quarter, soymeal prices have jumped a whopping 46%.
Soymeal prices averaged RMB5,169/tonne, surging RMB226/tonne or 4.6% compared with the previous week.
With soymeal prices breaking new record every week, the costs of feed production have surged tremendously. Feed producers will limit purchases prudently in the coming period.
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