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January 6, 2017
 
China Fishmeal Weekly: Prices dip despite dwindling port inventories (week ended Jan 5, 2017)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices fell prominently.
 

Weekly transacted prices of imported fishmeal at major Chinese ports (RMB/tonne)

Price type

Port/Inland city

Origin

Grade/
Protein content/
stock type

Price as of
Dec 29

Price as of
Jan 5

Price change

Port

Dalian

Peru

FAQ/65%/new

10,400

10,000

-400

 

Tianjin

Peru

FAQ/67%/new

10,400

10,000

-400

 

Shanghai

Peru

FAQ/65%/new

10,400

10,000

-400

 

Huangpu

Peru

FAQ/65%/new

10,400

10,000

-400

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,900

10,500

-400

 

Wuhan

Peru

FAQ/65%/new

11,000

10,600

-400

 

Shenyang

Peru

FAQ/65%/new

10,600

10,200

-400

 

Chengdu

Peru

FAQ/65%/new

11,100

10,700

-400

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1450 (Jan 6)

 
 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal dropped US$40/tonne to US$1,560/tonne.
 
Peru's fish catch as of December 28 totalled 1.25 million tonnes, which was to 63% of the fishing quota.
       
                                      
Market analysis
 
Supplies of fishmeal tightened in China while ort inventories fell to 76,000 tonnes. However, demand weakened as well as aqua feed output continued to shrink. Traders who were eager to clear inventories cut prices while the costs of Peruvian fishmeal softened.
 
Price quotes for prime-grade products slid to the range of RMB11,800-12,000/tonne.
 
 
Market forecast
 
As renminbi has rebounded sharply while Peruvian fishmeal prices fall amid increased supplies, the import costs of fishmeal will fall accordingly. Traders will be in a better position to negotiate prices to move sales as demand continues to diminish.
 

 


 
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