Hotspot Analysis：Soybean Procurement Price Raised

By CnAgri2012-11-22 10:24:00 Print     China’s soybean production experienced a decline this year. As farmers tend to hold beans from sale for higher prices, foreign-invested companies have offered high procurement prices.
 
    The state-run grain system has decided to raise soybean procurement price to RMB4,600/MT from this week on, up 15% on the year-on-year basis. This procurement price will enable farmers an extra income of RMB1,200 ~ 1,500/hectare this year compared with last year. Despite the new procurement price, soybean production is less profitable than corn production.

From “China Oil and Oilseeds Market Weekly Report”