Asian soybean meal buyers focus on Argentina Market

Introduction: U.S data transmission network, March 13 Asian soybean meal traders are busy reselling Argentine new soybean meal as South American soybeans are ready to harvest, but sales are not as good as last year Apart from South Korea and Thailand, other Asian buyers are cautious, although South American soybean meal is relatively cheap "There are some enquiries in the market, but they are not up to our expectations," said a senior oilseed trader based in Singapore But I believe that there will be an increase in enquiries for Argentine soybean meal through the second week of April " The U.S Department of Agriculture estimates that Argentina's soybean production in 2001 / 02 market is 28.75 million tons, but domestic analysts estimate that the production is about 30 million tons In 2000 / 01, Argentina's soybean production was about 26.8 million tons Asian traders began to offer Argentina's new soybean meal at a price of about 185 US dollars / ton C & F shipping in Southeast Asia in May, compared with 194 US dollars / ton for Indian soybean meal and 210 US dollars / ton for American soybean meal Traders say Indonesia has no interest in Argentine new soybean meal, and Filipino buyers wait for prices to fall further before entering into contracts After BSE in Japan last year, the outlook for demand is still uncertain "We have seen enquiries from South Korea and Thailand," said another trader based in Singapore We will soon sign a contract with South Korea, and Thailand has received a large number of orders from Europe for poultry So they need a lot of soybean meal "