Saturday, December 31, 2022
China's pig producers tweak feed formulations as soybean supply tightens, prices increase
In the first half of 2022, soybean production in South America decreased substantially while soybean inventories in the United States dropped to low levels, hence supporting CBOT soybean prices. That led to a significant increase in China's soybean import cost. Since February, the price of soybean meal stood above ¥4,000/tonne (US$550.75). In the second half of March, the price of soybean meal in China surged past ¥5,200/tonne, hitting a new record high.