US soya exports spark buying frenzy
By FWi staff
HIGHER-than-expected soya exports from the USA pushed up the price of soya meal on the European market this week as buyers scrambled to secure supplies.
Imported soyameal is currently trading up £9 at £199/ tonne. Consumers are responding by covering immediate needs on fears that prices could rise more substantially, according to the Home-Grown Cereals Authority.
Trade in other feed ingredients remains quiet. The recent volatility of the US dollar has reduced buyer activity on the market, the HGCA reports.
The price of some ruminant straights continues to rise, however. Citrus pulp pellets and meal have climbed £3 to £68/ tonne. Imported maize gluten pellets are up £5 to £107/ tonne. And palm kernel has recovered from last weeks £2 fall to end £4 up at £61/ tonne.
Only distillers dried products have shown a fall in price. Domestic pellets are down £9 to £132/ tonne and imported meal has eased £3 to £116/ tonne.