Poultry prices up by more than 50% in a year as animal feed drives up costs
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Synopsis
While the price of the key ingredient in poultry feed has increased 82% in a year, the jump has been sharper in the past one month, when it has risen 28%. Poultry has become costlier by 32% in a month. Soya meal, which is obtained after crushing the soyabean, is used in animal feed. High-protein soya meal is now selling at Rs 67 per kg, compared with around Rs 52 at the beginning of March.
Agencies
Soymeal has a 30% share in the feed composition. In March last year, soymeal was trading at Rs 30 a kg in the Indore market.
Soybean Market Review of Brazil & Argentina
Soybean Market
Global soybean markets for next few months shall react largely, in context to the fundamental developments in South America i.e. Brazil and Argentina. The Brazilian soybean harvest commenced late January, but till first week of March, not more than 25 percent of the planted soybean crop could be harvested. Wet weather situation is the major cause of slower harvest pace.
As the weather has not shown any noticeable improvement in the past week, there is higher possibility of further delay in the harvests. Farmers during later part of February and first week of March could not finish their harvests in the state of Mato Grosso, the leading producing state of Brazil, because they are unable to enter the water soaked fields of soybean. The weather has also affected the crop planted in the states of Goias, Tocantins, Para and Maranhao, with cloudy conditions, enhancing the risk of lower weight of the individual soybean plants.
NCDEX to launch Hi-pro soybean meal futures on February 17
The futures contracts in Hi-pro soybean meal, expiring in the months of March to September will be available for trading at the time of the launch. PTI February 15, 2021 / 05:42 PM IST
Leading agri-commodity bourse NCDEX on Monday said it will launch futures trading in animal feed Hi-pro soybean meal’ on February 17.
The futures contracts in Hi-pro soybean meal, expiring in the months of March to September will be available for trading at the time of the launch.
The contract will have a trading and delivery unit of 10 tonne. The basis centre and additional delivery centre for the contract would be Indore in Madhya Pradesh and Latur in Maharashtra, respectively, the exchange said in a statement.
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MUMBAI (Reuters) - India’s soymeal exports could more than double in 2020/21 after a rally in global prices to their highest in 6-1/2 years made shipments from the south Asian country lucrative for European and Asian buyers, four industry officials told Reuters.
Higher exports from India could trim shipments of South American soymeal into Asia and also support local soybean prices despite a bird flu outbreak hitting demand from the local feed industry.
India’s soymeal exports could jump to more than 2 million tonnes in the 2020/21 year that started on Oct. 1, from 825,000 tonnes shipped the previous year, said Atul Chaturvedi, president of Solvent Extractors Association of India, a mills and refining industry body.