December 25, 2012
Competition prompts China lysine producers to cut prices
Prices were lower during the week ended December 18.
Lysine prices weakened while producers cut prices in a bid to obtain cash during year's end. Even though soymeal prices continued to rise during the period in review, buyers were not eager to stockpile high inventories in anticipation of abundant supplies.
Price quotes of 98.5-percent lysine reduced to RMB13.30-13.50/kg.
As CBOT soy futures prices have softened of late, the upward momentum of China's soymeal market will be limited. Lysine prices are expected to stay soft while producers attempt to clear inventories.
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