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China

January 8, 2018

China Fishmeal Weekly: Prices stay stable despite falling inventory (week ended Jan 5, 2017)

An eFeedLink Exclusive
 

Price summary

Prices were mostly unchanged.
 

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

12,700

12,700

0

 

Tianjin

Peru

FAQ/67%/new

12,900

12,900

0

 

Shanghai

Peru

FAQ/65%/new

12,700

12,700

0

 

Huangpu

Peru

FAQ/65%/new

12,500

12,700

200

Rail station

Zhengzhou

Peru

FAQ/65%/new

13,500

13,500

0

 

Wuhan

Peru

FAQ/65%/new

12,700

12,700

0

 

Shenyang

Peru

FAQ/65%/new

12,700

12,700

0

 

Chengdu

Peru

FAQ/65%/new

12,700

12,700

0

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1540 (Jan 8)
 

Global markets

CNF prices of Peruvian prime-grade fishmeal remained firm at US$2,000/tonne.

Although the recent study showed that the population of small fish has dropped prominently form 90% to 20%, market participants projected the fishing quota to be in the low range of 300,000-500,000 tonnes.
 

Market analysis

Fishmeal prices were mostly stable in China while port inventories dipped 13% to 77,900 tonnes. Even as supplies dwindled substantially, fishmeal traders found it difficult to lift prices further as feed millers withheld buying amid slow usages.

Price quotes for prime-grade products stayed strong in the range of RMB13,800-14,000/tonne.
 

Market forecast

Tight availability will hold up the prices of fishmeal. Moreover, with the fish catch in the Peruvian seas expected to be limited, strong global fishmeal prices will prompt Chinese traders to stand firm to sustain profit margins.
 
 

 


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