Loading…
Daesang has withdrawn its bid for a controlling stake in China's Chengfu Food and now plans to buy only 20% by September 7. The company cited a slowdown in the amino acid market and a 15% drop in lysine prices in recent months.
Daesang's lysine business swung to losses in 2023, and CJ CheilJedang has cut lysine output in China.
Lysine producers cutting output and a 15% price drop point to oversupply and weak Chinese demand. This is a bearish signal for lysine feed prices.
asiafoodbeverages.comasiafoodbeverages Follow AuthorMar 30, 2024Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
