October 22, 2008

 

China Soymeal Mid-Week: Prices recover (Oct 21, 2008)

 

An eFeedLink Exclusive 

 

 

Prices rose by RMB40-200/tonne during mid-week to settle in the range of RMB3,300-3,400/tonne.

 

Soymeal transacted prices in China

Region

Protein content (%)

Price as of Oct 21 (RMB/tonne)

North-east China

 

Heilongjiang 

43

3,300

Liaoning 

43

3,360

North China 

 

Hebei 

43

3,360

East China 

 

Shandong 

43

3,300

Jiangsu 

43

3,220

South China 

 

Guangdong 

43

3,130

Prices are representative and are for reference only.
RMB1=US$0.1463 (Oct 22)

 

The news that the government will purchase 1.5 million tonne soy at higher prices than the market drove soymeal prices higher.


In the northeast, quoted prices of soymeal by crishers rose to RMB3,400-3,560/tonne amid the rise in cost of soy.


Soymeal prices are expected to stabilise in the near-term. Meanwhile, the price gap between the south and north will further enlarge

 
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