Dreyfus and others stop soy crushing in China due to energy restrictions

Louis Dreyfus Company (LDC), one of the world’s largest trading and agricultural commodities processors, reported on September 24th that one of its soy crushing plants in China had ceased operations this week amid widespread restrictions on consumption that reached various sectors across the country.

Five soy processors in the northern city of Tianjin closed last week, Tianfeng Futures said in a statement. The Dreyfus unit is among those that suspended crushing.

Soybean meal prices in China – the world’s largest consumer of the feed ingredient – are rising after the stoppages.

The Dreyfus facility has a daily crushing capacity of 4,000 tons, and has been closed since Sept. 22, the company said.

About five factories have also closed in the eastern Jiangsu province, according to a buyer of soybean meal from a large animal feed company in northern China.

At least 20 factories across the country were affected, said a Singapore trader for an international company with soy processing plants in China.

China’s provincial authorities have stepped up enforcement of emission restrictions in recent weeks, leading to strict limits on energy loads that have hampered production among industrial consumers.

Source: Money Times

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