August 18, 2023
China Lysine: Market strengthens further (week ended Aug 13, 2023)
An eFeedLink Exclusive
Soaring soymeal costs stimulated the demand for soymeal. With production limited, lysine producers stood firm on prices.
Transacted prices of 98.5-percent lysine in China were firm in the range of RMB8.85-9.20/kg while those of 70-percent lysine strengthened to the range of RMB5.37-5.58/kg.
Export prices of 70-percent lysine rose to US$0.74/kg while those of 98.5-percent varieties increased to US$1.22/kg.
High soymeal cost and strengthening hog prices will lend support to lysine market. However, as the outlook of China’s economy is uncertain, feed producers will be cautious with lysine purchases.
Full version of the report with complete data is available at: https://spoutinfo.com/market-forecast-detail/29/32/327/4969
All rights reserved. No part of this report may be reproduced without the permission of eFeedLink.