Farming News - Government is finally waking up to the protein supply issues
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Government is finally waking up to the protein supply issues
It appears the government is finally waking up to the protein supply issues - the next round of TSB (BBSRC–Defra) funding is aimed specifically at addressing specifically the issues of “Sustainable Protein Production” in UK. Feed Beans
Protein feed prices remain firm with the poultry sector under even more pressure due to non-GM rules imposed by the retailers. November CBOT soybeans rose again to $440 up $26 in a month, translating to import prices of £425+. This is very surprising given record soybean production in USA, but global demand for feed is inexorably rising.
UK beans ex farm this week were £175, £5 off the high. This £25 premium over wheat has all but stopped the UK’s export feed business for the time being.
Human Consumption Beans There has been very high trading activity as Egyptian and Sudanese buyers have recognised the better quality aspects of UK beans, with many orders fulfilled during the month. The relatively full pipeline means this trade may fall off now until the New Year, depending on the Australian crop, which is reported as very variable. Equal volumes of Wizards and spring types have been making the export grade. Earlier reports of heavy Bruchid attack seem to have been dealt with by the processors or were less than feared from the earlier samples - possibly down to north south divide and following the latest recommendations from PGRO. Yields in both France and UK were well below average this year. The French crop was around 500,000 tonnes compared with the UK estimate of 600,000.
Marrowfats Generally quiet trading this month. The high level of bleaching this year was evident even at PGRO/BEPA’s crop sample judging this year, so canning will be an important outlet. Good samples continue to fetch top prices for export and demand from the Far East remains strong, particularly as the Canadians report a frosty harvest.
Blue Peas Prices have fallen and the lower quality samples are going for feed at some £5 discount to feed beans. Canadian reports above may, however, change this picture.
White Peas
UK demand greatly outstrips supply this year, so anyone with a good quality crop to sell is in a strong position.