Soymeal price went up last week in China

By CnAgri2012-07-25 16:05:51 Print

Crushers raised soymeal price by RMB50/MT in Harbin, RMB250/MT in Dalian, RMB350/MT in Qinhuangdao, RMB300/MT in Shandong, RMB170/MT in Jiangsu and RMB350/MT in Guangdong on July 23 over the week before, bringing up the producer’s price to RMB3,650/MT, RMB4,000/MT, RMB4,200/MT, RMB4,200/MT, RMB4,200/MT and RMB4,450/MT respectively.

The producer’s price of Grade One soyoil was RMB9,950/MT in Harbin and RMB9,600/MT in Jiangsu on July 23, the former up RMB150/MT over the week before but the latter down RMB50/MT from the week before.

Meanwhile, Grade Four soymeal price was quoted RMB9,530/MT in Dalian, RMB9,530/MT in Guangdong, RMB9,450/MT in Shandong and RMB9,400/MT in Jiangsu, up RMB50/MT, up RMB30/MT, but down RMB50/MT and down RMB100/MT respectively.

Crushers processing imported soybeans achieved a profit of RMB234/MT last week, but those processing domestic soybeans enjoyed a profit of RMB325/MT because home-produced soybeans were cheaper than imported soybeans.

From "China Oil and Oilseeds Market Weekly Report"