In the near future，the methionine market has been operating within the historical bottom range, and has recently bottomed out. The current price is RMB 16.5-18/kg. New domestic production capacity is gradually released this year. The market supply is abundant and the low range is hovering. European market quotations fell to 1.75-1.82 euros/kg. Affected by weak transaction prices and growth in domestic production, methionine imports have declined in recent months.

From January to July 2020, my country’s methionine imports drop by 2% year-on-year
According to customs statistics, in July 2020, my country imported 11,600 tons of solid methionine products, a month-on-month decrease of 4,749 tons, a year-on-year decrease of 9614.17 tons, a decrease of 45.35%. In July 2020, my country imported 1,810 tons from Malaysian factories, an increase of 815 tons month-on-month and a year-on-year decrease of 4,813 tons. In July, my country’s imports from Singapore dropped significantly to 3340 tons, a month-on-month drop of 4840 tons and a year-on-year drop of 7,380 tons.

From January to July 2020, my country’s methionine imports totaled 112,400 tons, down 2.02% year-on-year. The top three countries are Singapore, Belgium, and Malaysia. Among them, imports from Singapore accounted for the highest proportion, with a cumulative import of 41,400 tons, accounting for 36.8%. Followed by Belgium, the cumulative import volume from January to July was 33,900 tons, a year-on-year increase of 99%. The cumulative import volume from Malaysia was 24,100 tons, down 23.4% year-on-year.

Poultry industry continues to lose money
When the expansion of the poultry industry encounters the new crown epidemic, the efficiency of poultry breeding is sluggish. This year, farmers have suffered losses for more time. The average price of commercial broiler chickens is 3.08 yuan/kg, down 45.4% year-on-year and 30% year-on-year. The African swine fever epidemic has limited alternative consumption space and weak market demand growth. Not only are broilers and eggs losing money, but meat ducks are also not optimistic. Recently, Feng Nan, Secretary-General of the Poultry Industry Branch of the Shandong Animal Husbandry Association, said that the current number of ducks in my country’s duck industry is between 13 million and 14 million, which has far exceeded the balance of supply and demand. Overcapacity has caused industry profits to plummet, and the duck industry is in a state of loss across the entire industry chain. The downturn in poultry farming is not conducive to demand, and the methionine market is running low.

To sum up, although the import volume of methionine has declined in recent months, it was recently reported that the US methionine plant has suspended production due to the US hurricane. However, domestic manufacturers’ output has increased, manufacturers’ quotations are weak, poultry farming efficiency is sluggish, and methionine supply is abundant and short-term weakness Hard to change.