Miller Magazine Issue: 135 March 2021

90 MARKET ANALYSIS MILLER / march 2021 ries are expected only in mid-March or in April. As of March 1, refiners are not actively launching pro- cessing. The main reason is the high price of raw materials, according to China Oilseeds. According to the line-up, only 6.2MMT of soybeans will arrive in China in March. Due to problems with the supply of soybeans, many factories are in no hurry to start production. This can lead to a decrease in oil reser- ves and its rise in prices on the domestic market. Traditionally, the post-Chinese New Year period is characterized by a decline in pork demand, the rate of recovery in the pig population has slowed. This led to a decrease in demand for soybean meal, an increase in stocks at the processing facilities and, as a consequence, to a decrease in prices. The price for March 1, 2021 is about 504 USD under CFR China port terms. In this regard, the spot price for sunflower meal will also decrease. The price of soy- beans with protein from 39% on March 1 is within 814 USD on CFR China port terms and continues to grow. There are not many offers of imported soy- beans either; the next deliveries are expected only in mid-March or in April. As of March 1, refiners are not actively launching processing. The main re- ason is the high price of raw materials, according to China Oilseeds. According to the line-up, only 6.2MMT of soybeans will arrive in China in Mar- ch. Due to problems with the supply of soybeans, many factories are in no hurry to start production. This can lead to a decrease in oil reserves and its rise in prices on the domestic market. Over the past few days, the price of sunflower oil has increased by almost 40 USD and is about 1526 USD CFR China port, China Oilseeds notes. The price of sunflower oil in the EU is also growing. And for today it seems not stop. So these days market is calm. Calm like a deep blue ocean. And you know what does it mean. China domestic soy prices Dec-Mar by China Oilseeds TC