SunSirs: Good News, China Soybean Meal Market Recovered after the Spring Festival
January 29 2023 09:53:50 SunSirs (Selena)
According to the monitoring data of the SunSirs, after the Spring Festival, the terminal feed industry has resumed operation, the pressure on the supply of soybean meal has eased, and the market has warmed up. On January 11, the average market price of soybean meal was 4,544 RMB/ton. On January 28, the average market price of soybean meal was 4,648 RMB/ton, up 2.29%.
During the Spring Festival, soybean oil plants were shut down for maintenance, and the pressure on soybean meal inventory was reduced. After the festival, the terminal feed factory began to work one after another, the overall recovery of the industry, the soybean meal market ushered in an improvement, the overall price rise was the main, the market mainstream price was about 4,600 RMB/ton, up 100 RMB/ton from January 11.
According to SunSirs agricultural product analysts, the demand for terminal feed increased in February, and the soybean meal market is expected to continue to rise in the future.
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