January 3, 2014
China Fishmeal Weekly: Prices remain flat despite increase in sales (week ended Jan 2, 2014)
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Price summary
Prices were unchanged.
|
Weekly transacted prices of imported fishmeal at major Chinese ports (RMB/tonne) | ||||||
|
Price type |
Port/Inland city |
Origin |
Grade/ |
Price as of |
Price as of |
Price change |
|
Port |
Dalian |
Peru |
FAQ/65%/new |
8,800 |
8,800 |
0 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
8,800 |
8,800 |
0 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
8,800 |
8,800 |
0 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
8,800 |
0 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
9,400 |
0 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
9,400 |
9,400 |
0 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
8,800 |
8,800 |
0 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
9,600 |
9,600 |
0 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
Peru has completed 86% of the fishing quota for the current season, with about 322,600 tonnes remaining. FOB prices of CNF fishmeal were at US$1,450/tonne to US$1,480/tonne, a fall of US$20/tonne from the previous week.
Market analysis
Driven by year-end inventory expansion, sales of fishmeal increased slightly in China. However, under the pressure of high volume of stocks and tight cash flow, traders were also more willing to negotiate prices, offsetting the uptick in sales. As a result, China fishmeal prices remained flat over the past week.
Prices of prime-grade products were unchanged at RMB9,400/tonne to RMB9,600/tonne.
Market forecast
The downward trend in China fishmeal market is likely to continue in the coming weeks, as traders are more eager to sell prior to the Chinese New Year, while feed demand will remain weak in the near term.
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