New demand drives up the price of Indian soybean meal
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Last Update: 2002-01-28
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Source: Internet
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Author: User
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Introduction: the CBOT soybean meal weakened overnight and the volatile domestic market in India led to a weaker opening price of Indian soybean meal on Friday But the sudden demand for shipping in the export market in February pushed Indian prices It is reported that the trading volume is about 10000 tons, and the transaction price is about 175 US dollars / ton FAS, which will be shipped in February This reflects the fact that buyers who have not completed their purchases are looking for soybean meal The seller is reluctant to sell the meal at a lower price, although the buyer is willing to pay Japan continues to buy Chinese soybean meal, and China is expected to continue to influence India's market share in the Far East Indonesia will consider that non-U.S source soybean meal may benefit India This year Indonesia will avoid using the US agricultural export loan guarantee program, which will affect US soybean meal sales in Indonesia, but it will benefit India In 2000 / 01, Indonesia's imports of American soybean meal increased from 258000 tons in the previous year to 800000 tons, which led to a sharp decline in the market of India to Indonesia.
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