Animal Feed Ingredient Market Information In China On May 11, 2021
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Feed Ingredient Price List on May 11, 2021 | ||||
Variety | Today AVG. Price(RMB) | Yesterday AVG. Price(RMB) | Growth | Unit |
Corn/Maize | 2827.21 | 2823.16 | +4.05 | RMB/MT |
Soybean Meal | 3540-3680 | 3560-3690 | -10-20 | RMB/MT |
Rapeseed Meal | 2965.00 | 3005.00 | -40.00 | RMB/MT |
Cotton Seed Meal | 2980.00 | 3000.00 | -20.00 | RMB/MT |
DDGS | 2448.50 | 2448.50 | +0.00 | RMB/MT |
Peruvian Steam Dried Fish Meal | 11400-11500 | 11400-11500 | +0.00 | RMB/MT |
Data Source: China Feedtrade Net Exchange Rate: 100USD=642.54RMB | ||||
Market Comments and Concern
Rapeseed Meal
Rapeseed meal price dropped dramatically today. The future soybean meal price at Zhengzhou Exchange started decreasing for stagflation followed by the prompt goods. Meanwhile, soybean meal inventory has increased up to more than the historic high of 80,000.00 MT in the same term for the resumption of oil plants and the massive arrival of soybean from South America. Therefore, rapeseed meal has been suppressed, with the delivery of China local rapeseed recently. However, the demand will be warming up as the peak season of aquaculture is approaching and the cost of imported rapeseed is expected higher. As a result, rapeseed meal price will be fluctuating in a short term. Close attention shall be paid to US soybean and soybean meal market, and the monthly report by USDA. The meals’ market in China will be lifted if US soybean price continued increasing.
Source: China Feedtrade Net
