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Chinese meat and bone meal prices are weakening because domestic demand for aquatic products is poor and imports have risen sharply this year. Traders who bought abroad on the back of high domestic fishmeal prices are now pulling back, pushing international MBM prices lower.
The analysis describes light trading volumes and a weak protein market.
Lower Chinese demand and rising imports weigh on global MBM prices, and a weaker MBM market can pressure fishmeal as substitute protein. Buyers can expect cheaper MBM supply in the near term.
fishmeal-machine.comJan 13, 2023Not enough comparable past events yet for a historical read.
Not 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.
