China’s soybean meal stocks continue to decline
According to SunSirs, a China commodity research center, Chinese oil mills ramped up soybean processing during the pre-holiday workdays in the week beginning February 6. Weekly soybean processing volumes reached a record high, while soybean meal production increased, boosting inventories to 900,000 tons.
This weekend marks the start of the Spring Festival, and oil mills will be closed. By the end of the month, inventories are expected to decline to approximately 700,000 tons.
According to the center, the domestic soybean meal benchmark price was 3,164 yuan per ton on February 11, down 0.44% from the beginning of the month (3,178 yuan per ton).
As a reminder, last year, soybean meal inventories in China reached a record high of one million tons amid booming imports, and then slowly declined.
Further development of the grain and oilseed markets of Ukraine and the Black Sea region will be in the spotlight of the BLACK SEA GRAIN. KYIV conference, taking place on April 22–23 in Kyiv. The event will focus on strategic directions for the agricultural sector through 2030, including investments, energy independence, processing, and exports of high-value products.
Join strategic discussions and networking with industry leaders to gain актуальна insights, discover new business opportunities, and build partnerships with key market players.
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon