November 12, 2012

 

Proconco buys 18,000 tonnes Indian soymeal

 

 


Proconco, a Vietnamese animal feed manufacturing company, has bought two cargoes of Indian soymeal totalling 18,000 tonnes.

 

Proconco bought 10,000 tonnes of soymeal around US$586/tonne for November 15-December 15 shipment to Ho Chi Minh City, basis cost and freight, the executives said Friday (Nov 9). It also bought 8,000 tonnes around US$584/tonne, C&F, for November 20-January 20 shipment to Hai Phong, they said.

 

Tight supply from South America and India has pushed up demand for Indian soymeal in East Asia. Indian soymeal prices are down by around US$100/tonne since end-August due to on-going harvests, good prospects for plantings, a large crop in South America and long liquidation by investors on the Chicago Board of Trade.

 

South Korea's largest feed miller, Nonghyup Feed Inc., Thursday (Nov 8) bought a 30,000-tonne cargo of Indian soymeal from Adani Group around US$579/tonne, basis cost and freight, for arrival by April 10.

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