Reported 4 months ago
China is exporting record amounts of soybean meal due to a decrease in the number of pigs and weak demand for pork, leading processors to export surplus animal feed. This shift reflects China's slowing economy affecting domestic consumption and trade flows, with soybean meal prices at three-year lows and exports reaching nearly 600,000 tons in the first four months of 2024. These exports, primarily to Japan and the UK, are a sign of changing dynamics in China's agricultural markets amid reduced pig herds and decreased consumer spending, impacting global trade and supply from South American exporters.
Source: YAHOO