Amino Acids China E-News(Amino Acids China E-News 202410)

Welcome to the Oct. issue of Amino Acids China E-News.

Company dynamics

• Meihua Group's Q3 2024 revenue declined YoY due to the impact of the market for its main products MSG, xanthan gum and starch by-products;
• Fufeng Group's H1 2024 revenue and net profit declined YoY due to market supply and demand factors, and its subsidiary Longjiang Fufeng added 120,000 t/a 98.5% L-Lysine hydrochloride capacity.

Project developments

• Jiangsu Guoxin Union Biotech added 1,500 t/a γ-Aminobutyric acid;
• Dingxin Pharma added 3,000 t/a creatine monohydrate and 10,000t/a 30% creatine solution;
• Jirong Pharma added 7,000 t/a capacity of food-grade amino acid;
• Shine Star's 12,000 t/a creatine monohydrate EI report announcement.

Governmental Direction

The draft of the industry standard Amino Acids, Amino Acid Salts and Their Analogues Part 8: L-Serine and Amino Acids, Amino Acid Salts and Their Analogues Part 14: L-Glutamic Acid has been released for public comment.

Price: In Oct. 2024, influenced by holiday and market supply and demand factors, methionine prices fell MoM while threonine prices continued to rise MoM; additionally, the market price of amino acid upstream soybean meal also fell MoM.

Import and Export: Lysine market in Sept. was affected by supply and demand and international policies, lysine esters and salts rose YoY and MoM.

Reminders

1. The USD/CNY exchange rate in this newsletter is USD1.00=CNY7.0709 which was sourced from the People's Bank of China on 8 Oct., 2024. All the prices mentioned in this newsletter will include the price of lysine esters and salts. All the prices mentioned in this newsletter will include the VAT, unless otherwise specified.
2. In this newsletter, the variance rates (MoM, QoQ, YoY, etc.) of all figures that involve RMB/USD conversion (prices, sales values, costs, etc.) are calculated with pre-conversion RMB prices/USD prices, except for the figures in Import and Export column.