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Soybean meal is a key ingredient added to animal and food feeds as a substitute for protein as well as a metabolizable energy source. It is made from the leftover residue of the oil extraction process that is commonly used in soaps and biodiesel, industrial oils etc. It is available in the form of a ground soybean cake, flakes, and chips. Almost all soybean meal includes ground soybean hulls.
Global leaders producing Soybean Meal are Argentina, Brazil, the United States, Netherlands, and Germany.
Key Details About the Soybean Meal Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Soybean Meal price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Soybean Meal price forecast, pricing database, and analysis can prove valuable for the procurement managers, directors, and decision-makers to build up their strongly backed up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Soybean Meal Price Trend:
The essential industrial use of soybean meal that is affecting its price trend includes its use in food and animal feed to fulfil the protein requirement and as a source of metabolizable energy. It also finds application in other products, including soy flour, in beverages like soy milk. It is also added to several dietary supplements and healthcare derivatives.
Key Market Players:
- SunOpta Inc.
- Grain Millers, Inc.
- Adams Group
- Simmons Grain Company
- Professional Proteins, Ltd.
News and Events:
- September 23, 2022 – The government of China declared that they intend to minimise the use of soybean meal in animal feeds in order to achieve their goal of boosting food security.
- September 23, 2022 – In China, soymeal spot prices soar to record highs indicating a commodity shortage resulting in increased feed and pork prices. The prices rose by 10 percent in the primary processing plants of Shandong and Guangdong. As a resolution, supplies from the US and Argentina will be imported, but it might take some time.
Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team track the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.
To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.
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