Animal feed prices have increased in China as the price of raw materials rises, according to Apollo News.
More than 30 animal feed companies across China announced price increases, including New Hope, Tongwei, Anyou, Tiankang, Datai Nong, Kuaida, Baiyi, Longfengtire, Dawang, and Liyuan.
According to Guangzhou Feed Association, on Feb. 11, the price of corn was $445/ton. The soybean meal price was $690/ton. A Peruvian super steam fish meal costs $1,870/ton.
U.S. soybean futures price rose to a new high in eight months, so the animal feed market outlook is expected to be high for the coming months, and the cost of imported soybeans collectively hits a new high.
As of Feb. 10, the price of imported soybeans from the United States, Brazil, and Argentina was close to $800/ton. The increase was significant, and the transportation cost for domestic soybean meal is also relatively high.
Due to the continuous surge in the price of imported soybeans, transportation costs, and low market expectations, it is expected that oil mills will increase the price of soybean meal.
During the Lunar New Year Festival, as the operating rate of oil mills declined, the output of soybean meal decreased significantly.
The price of pig, poultry, and fish feed also increased. The increased range was $8 to $47/ton.
China is one of the largest animal feed markets globally, with three companies in the world’s top ten list.