Soybean meal spot price continues to highly explore the reduction of reduction alternatives

Reporter Li Yuzheng

Lear reporter Ding Rong

Recently, the spot price of domestic soybean meal has risen to the high point in the past ten years. According to the latest data of China Grain and Oil Information Network, on September 25, the spot quotation of 43%of the protein bean meal in Tianjin was 5350 yuan/ton, an increase of 480 yuan/ton a week ago. Oriental Fortune Choice data shows that as of September 23, the spot price of soybean meal was 5364 yuan/ton, a weekly increase of 9.51%, a monthly increase of 18.30%, an annual increase of 36.70%. The highest price since statistics.

On September 25, Zou Honglin, an analyst of soybean meal of Shanghai Steel Union Agricultural Products Division, said in an interview with the Securities Daily reporter: "Under the joint action of the supply side and the demand side, the spot price of soybean meal has reached the highest in nearly ten years. The spot price High enterprises will inhibit the demand for downstream, and the space for further increase in soybean meal prices in the future will be restricted. "

Under the unified deployment of the country, downstream breeding companies have explored reduction alternatives. On the one hand, listed companies show their magical powers. On the one hand, the digestion and absorption rate of animal feed is improved and the amount of soybean meal is reduced; on the other hand, other feeds with better protein content replaced soybean meal.

Soybean meal price increase has been transmitted downstream

Soybean meal is a by -product obtained by soybean oil extraction soybean oil. It is one of the raw materials for making livestock and poultry feed. According to the monitoring of the Ministry of Agriculture and Rural Ministry, the average protein content of pig feed products in my country is 15.7%, and the proportion of soybean meal in feed is about 17.7%.

The continuous rise in soybean meal prices stems mainly from the common promotion of the supply side and demand side. In terms of supply side, my country's soybeans have exceeded 80%of the exterior, and the amount of soybeans from soybean to Hong Kong is low. In addition, the starting rate of oil plants has decreased, and the soybean meal inventory of oil plants has fallen to a lower level. MYSTEEL agricultural data shows that the current soybean meal of major oil plants in the country is 474,900 tons, a year -on -year decrease of 50.95%. In terms of demand side, with the gradual recovery of pig breeding profits, the demand for soybean meal has continued to increase. At the same time, since mid -August, the increase in stocking of feed companies and breeding companies has also increased the demand for soybean meal.

The price of soybean meal has continued to rise and transmitted to downstream feed companies, and some downstream companies have adjusted the prices of pig feed and fish feed. Among them, from September 12, Shandong Classic Feed Co., Ltd. has risen by 100 yuan/ton in teaching grooves, concentrated materials, and suckling pigs, and 50 yuan/ton in China -Greana and sow ingredients.

Zou Honglin told a reporter from the Securities Daily that the high spot price of soybean meal has made many breeding companies daunting. It is difficult to change the price trend of soybean meal, on the one hand, it takes more time, and on the other hand, it needs to be recovered.

"Reducing the dependence on imported soybean has always been the direction of my country's efforts. At present, the import of Indian vegetable meal, Brazilian soybean meal, and Argentine soybean meal has been released, and the self -sufficiency rate of domestic soybeans is vigorously enhanced." express.

Enterprise exploration reduction alternative

In order to promote soybean meal reduction alternatives, the state has issued a series of measures. In September 2020, the State Council issued the "Opinions on Promoting the High -quality Development of Animal Husbandry", emphasizing that it is necessary to adjust the optimized feed formula structure and promote the reduction of corn and soybean meal. In March 2021, the Animal Husbandry and Veterinary Bureau of the Ministry of Agriculture and Rural Affairs issued the "Corn and Soy Meal Reduction Equipment Work Plan", which requires the promotion of the use of grain and miscellaneous meal to reduce the amount of corn and soybean meal in the feed. In April 2021, the "Pig and Chicken Feed Corn Soy Meal Reductioned Alternative Technical Plan" was released, which clarified the method of soybean -loading corn replacement and the main points of the dietary preparation. On September 19 this year, the Ministry of Agriculture and Rural Affairs held a video conference to comprehensively promote soybean meal reduction replacement operations. Last year, the operation had saved 11 million tons of soybean meal.

"The price of soybean meal has continued to fluctuate at a high level, forcing breeding companies to speed up the exploration of soybean meal reduction alternatives." Zou Honglin said that related listed companies have made moves and have achieved certain results in the reduction of alternatives.

The relevant person in charge of Wen's shares said in an interview with a reporter from the Securities Daily on September 25: "The company studied the construction of an animal's bionic digestive system platform and established a predictive model of routine chemical composition and net energy and digestible amino acids for common feed raw materials. A complete set of mature soybean meal reduction alternative system has been formed. In 2021, in the company's pig feed, the average amount of soybean meal accounted for 7.4%; in the first half of 2022, the average dosage of soybean meal accounted for less than 4%. "

Muyuan shares have also established nutritional parameter databases such as feed raw materials and digestible amino acids. Practice has proved that additional five or six synthetic amino acids can be supplemented, and the feed protein content standards during the entire process of pig farming can be reduced to 12%. In 2021, the feed used in the field of pig farming in Muyuan shares was 15.8 million tons, and the average amount of soybean meal accounted for 6.9%, which was 8.4 percentage points lower than the average dosage of soybean meal consumed in the breeding industry, which is equivalent to reducing the amount of soybean meal of 1.3 million tons Essence

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