Indian soybean meal price will rise

Introduction: India agricultural products network, December 25 Indian soybean meal prices have fallen by $10 / ton in the past month, and may rebound in the near future According to S Sivakumar, executive director of ITC's international trade division, the price of Indian soybean meal is likely to rebound At present, the price of Indian soybean meal in the international market is about 170 US dollars / ton, compared with 180 US dollars / ton last month He claims that Indian soybean meal prices will rebound to at least $175 / ton in the next few days He believes that prices will rise with the increase of animal feed consumption in the United States, where the current temperature is falling Generally, feed consumption will increase when the climate turns cold Therefore, climate conditions have a small impact on the price of soybean meal And many traders will increase their inventory at the current low price Soybean meal, which has already signed a contract, will be implemented from January, leading to higher prices At present, Indian soybean meal exporters are in a difficult situation, because China occupies the main soybean meal market in India, such as Japan and Vietnam, and the export volume of American soybean meal to Indonesia exceeds the expectation And the decline of Argentine currency exchange rate has made Indian soybean meal exporters worse Argentina is one of the most important soybean exporting countries in the world In addition, soybean crops in South America grow well As a result of China's influence, India's export of soybean meal to Japan decreased from 320000 tons in 1999 / 00 to 160000 tons in 2000 / 01, and further dropped to 75000 tons this year Similarly, India's soybean meal exports to Vietnam fell from 280000 tons last year to 75000 tons this year The export of soybean meal to Indonesia decreased from 460 thousand tons in 1999/00 to 350 thousand tons in 2000/01 and to 200 thousand tons this year The sharp decline in soybean meal exports to the above countries was partially offset by the increase in soybean meal exports to South Korea and Iraq, which so far this year are 450000 tons and 150000 tons respectively (author:) share to feed Weibo share to: