# Daesang alters plan to acquire China’s leading food additives producer – Asia Food Beverages

> Daesang has withdrawn its bid for a controlling stake in China's Chengfu Food and now plans to buy only 20% by September 7.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.

- Date: 2024-03-30 · published 2024-03-30T12:00:00.000Z
- Category: market · region China · magnitude low
- Page: https://feedsoft.ai/events/31542-daesang-alters-plan-to-acquire-china-s-leading-food-additives-producer-asia
- Commodities: [Lysine](https://feedsoft.ai/c/LYSINE.md)

## Why it matters

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.

## Read by commodity

- LYSINE: bearish ▼

## Sources

- asiafoodbeverages.com: https://asiafoodbeverages.com/daesang-alters-plan-to-acquire-chinas-leading-food-additives-producer/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.