Philippine feed processing plant looks on Chinese soybean meal

Lead: Reuters a Philippine trade official said on Monday that Philippine feed mills expect China to provide soybean meal exports at competitive prices compared with those of India and the United States Ric Pinca, vice president of the Philippines feed processing factory Association, said that following the surge in Chinese soybean procurement at the beginning of this year, Philippine importers have been paying close attention to the possibility of soybean meal export in China, which is a good news for the Philippine feed trade, because the latter has been struggling under the high cost of raw materials "The feedback we get from trade insiders is that China may provide some soybean meal exports because China imports a large number of soybeans and expects good domestic soybean production this year," Pinca told Reuters at the adjournment of the Southeast Asian soybean buyers conference "It is certain that China's domestic soybean meal supply will exceed domestic demand to a considerable extent," he added We are very confident that China will export some soybean meal " His views also reflect those of some Asian traders According to Chinese customs data, China launched a soybean import frenzy in the first half of 2001, which increased by 69.2 percentage points compared with the same period last year to 5.97 million tons, nearly three quarters of which came from the United States But recently, China has slowed down soybean imports because of uncertainty about the implementation rules of China's new regulations on genetically modified products "Because the shipping cost from China to the Philippines is only about $10 per ton, it's quite easy for Philippine soybean meal importers," Pinca said But let's see how much soybean meal China can provide " Filipino importers pay between $25 and $30 per ton for meal from the United States and $15 per ton for meal from India Traders believe that China's domestic soybean production has not suffered a great loss due to the drought in North China at the beginning of this year The production is expected to reach 15 million tons, only slightly lower than last year's production of 15.4 million tons (author:) share to feed Weibo share to: