Caixin
Sep 24, 2022 02:53 AM
CHINA

China’s Spot Soymeal Prices Jump to Record in Sign of Shortage

(Bloomberg) ― China is facing a soybean meal shortage at least in the short term as prices of the feed ingredient soar to a record in some provinces.

Spot prices have jumped as much as 10% this week in the main processing hubs of Guangdong and Shandong, according to data from Shanghai JC Intelligence Co. The rally could drive up feed costs for hog farmers and spur a further run-up in pork prices that Beijing is trying to cool amid inflation pressures.

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