The number of inquiries on Mobaobuy.com remained high last week, with a slight decrease of 4.7% compared to the previous week. Inquiries for Mono-dica

The number of inquiries on Mobaobuy.com remained high last week, with a slight decrease of 4.7% compared to the previous week. Inquiries for Mono-dicalcium Phosphate, 70% L-Lysine Sulfate and 98.5% L-Lysine HCL increased by 125.6%, 31.8% and 39.7% respectively. By contrast, inquiries for L-Threonine, DL-Methionine, L-Tryptophan and Calcium Hydrogen Phosphate experienced a slight dip.

1.

Last week, 70% L-Lysine Sulfate maintained its leading position across all metrics - number of inquiries, transaction volume, and transaction amount - on Mobaobuy.com. It experienced a surge in its conversion rate, which reached 89%. Additionally, having achieved continuous remarkable growth over the past two weeks, the transaction volume of 70% L-Lysine Sulfate grew by more than 200% last week, accompanied by a 6.5% rise in transaction price, compared to the preceding week.

These trends suggest that a consensus regarding the future price movement of this product has been gradually established within the upstream and downstream sectors. This consensus was particularly pronounced during the second half of last week, marked by a significant surge in inquiries, transaction volume, and conversion rate. Although the overall number of inquiries on the platform declined slightly last week, actual transaction volumes soared by 90.7% compared to the previous week, which can be credited to the sharp rise in the conversion rate of various products.

2.

According to various market information from www.boyar.cn, last week saw slight fluctuations and adjustments in hog prices. Certain regions were affected by heavy rainfall, leading to a constrained supply of live pigs. Consequently, hog farmers were reluctant to sell, with the intention of bolstering prices, resulting in a week-on-week increase in average prices.

As for poultry, the upward price pressure on chicken products slightly eased. The prices of live white feather broiler climbed to a high level and remained stable for adjustments. Notably, the rising number of orders for baby chicks drove the breeding hen farmers to proactively lift prices, which subsequently led to an across-the-board price increase. Besides, baby duckling orders also increased, with prices initially experiencing a decline before rebounding.

In terms of raw materials, both soybean meal and corn experienced price increases. Throughout the past week, spot prices of soybean meal in China picked up substantially. Shifts in the RMB exchange rate and the tightening quality inspection standards for imported soybeans have led to a reduction in the supply of soybean meal. Meanwhile, soybean oil manufacturers have introduced limitations on order quantities. Nevertheless, despite these circumstances, strong demand at the terminal level and an increasing enthusiasm for restocking played a key role in driving substantial market transactions.

There were concerns in the market about new crop production, causing simultaneous increases in both spot and future prices of corn. The market’s bullish sentiment continued to intensify, as corn futures prices on the Dalian Commodity Exchange surged to nearly a five-month high.

3.

There are 47 days remaining until the Mid-Autumn Festival and National Day in China, and the market anticipates a further increase in demand.

This year’s Labor Day holiday witnessed a strong momentum of recovery in China’s cultural and tourism sector, Domestic trips rebounded to 119.09% of the 2019 figures. Similarly, the revenue generated from domestic tourism also surged to 100.66% of the 2019 amount, on a comparable basis.

Statistics released by the Ministry of Culture and Tourism of the People’s Republic of China on July 13 reveal that the total number of domestic trips made in the first half of 2023 increased by 63.9% year-on-year, and the revenue derived from domestic tourism (total tourism expenditure) surged by 95.9% year-on-year.

The vibrant condition of China’s domestic tourism market this summer is evident to all. As the forthcoming eight-day holiday aligns the Mid-Autumn Festival and National Day, the tourism market is primed for yet another upsurge in activity.

4.

The previous industry-wide losses posed great challenges to the survival of small and medium-sized enterprises. With the recovery of earnings in the breeding industry, the flexibility of these businesses will demonstrate their survival capabilities and resilience. This will provide them with the opportunity to revive their production and operations, which is an integral part of the market that cannot be overlooked.

For manufacturers of larger scale, due to their greater demand for raw materials, ensuring a steady supply is more challenging compared to smaller businesses. Therefore, they require more advanced planning and must be better prepared for potential challenges.

Over the next six weeks, the demand for raw materials is expected to continue growing. Nevertheless, the shutdown and production curtailment scheduled for maintenance in July and August, along with the subsequent recovery phase, will, to some extent, impact future supply and inventory levels.

?<Effamall.com>

?Copyright Notice

The content above is copyright of Shanghai Mobao E-commerce Co., Ltd. and may not be reproduced without permission. Copyright also exists in all other indicated sources of information and may belong to the author depending on the circumstances of use.