SunSirs: Poor Demand for Domestic Feed, China Soybean Meal Market is Weak and Declining
December 23 2024 15:13:01 SunSirs (Selena)
According to monitoring data from SunSirs, the soybean meal market has been weakly declining since December 1st, with a drop of nearly 7%. On December 20th, the average market price of soybean meal was 2,814 RMB/ton, a decrease of 6.94%.
Starting from December, the number of imported soybeans arriving at the port has continued to increase, the operating rate of domestic soybean oil plants has increased, the supply pressure has doubled, and the demand for terminal feed industry is sluggish. The trading volume of soybean meal market continues to decline, and the domestic soybean meal market continues to be weak and mainly declining. As of December 20th, the market price of soybean meal has fallen to 2,800 RMB/ton, a decrease of more than 6%
The agricultural product analyst of SunSirs believes that multiple negative pressures will continue to suppress the domestic soybean meal market, and the main trend will be a weak decline in the future.
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