October 24, 2012
Falling soymeal price adds pressure to China lysine market
Prices fell further during the week ended October 21.
Sliding soymeal prices added pressure to the lysine market, which was facing weak post-festive demand amid low animal inventories.
Additionally, export demand softened as renminbi exchange rates rose to historic high levels lately.
Price quotes of 98.5-percent lysine were lower at RMB14.40-15/kg.
Lysine prices are expected to move lower with feed millers withholding purchases and export orders unlikely to increase in the near term.
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