Soybean meal nearing 400 once again

25th feb 2009

(Prices are indicative in US Dollar pmt fob port, India)

Feed Meals Prices: (fob/fas - by breakbulk)

Soybean Meal : US$ 393-398 pmt fob Kandla/Bedi port
The prices for sbm which went down last week due to weaker demand and softening of beans prices, went up again mainly due to possibility of Argentinian strike. There is higher tax on export of soybean than on export of meal and oil from Argentina to which the farmers and exporters group protest. If strike happens, then prices for sbm will go even higher.

bring down their import cost which could lead to more demand for Indian soybean meal. Argentinian origin is getting offered at US$ 335-340 pmt while Brazil at US$ 345-350 pmt fob.

Rapeseed Meal - US$ 176-178 pmt fob Kandla port.
With the upward movement in sbm prices, rsm too moved up in tandem.

Peanut Meal - US$ 290-293 pmt fob Bedi port
Rice bran meal - US$ 110-112 pmt fob Kakinada port
The prices for both this feed meal remained unchanged. The export of peanut and rice bran meal is very less compared to sbm and rsm.