Fishmeal Prices Boost Soy Demand in Chinese Aquafeed Mills
More soy will be used in China’s aquafeed industry this year because of price increases in fish meal, as well as other plant ingredients like rapeseed meal and cotton meal, according to the U.S. Soybean Export Council (USSEC).
USSEC’s China aqua staff visited several aquafeed mills to formulate soy-based diets for 2010 feeding demonstrations and provide technical service to feed mills in China. The organization reports that the manager from the Ningbo Techbank Feed Company indicated that Chinese aquafeed millers would increase the inclusion ratio of soy products, including meals and soy protein concentrate, in their aquafeed formulation because the soy meal and soy protein concentrate have better price, consistent quality, reliable supply, higher digestibility and good amino acid profile as compared to other plant ingredients.
Some larger aquafeed mills, such as Evergreen, Yuhai, and Dahai, have already signed contracts to order soy protein concentrate during 2010.