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January 14, 2019
 
China Fishmeal Weekly: Market stays under pressure (week ended Jan 11, 2019)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices stayed stable.
 

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
Jan 4

Price as of
Jan 11

Price change

Port

Dalian

Peru

FAQ/65%/new

9,800

9,800

0

 

Tianjin

Peru

FAQ/67%/new

10,000

9,800

-200

 

Shanghai

Peru

FAQ/65%/new

9,800

9,800

0

 

Huangpu

Peru

FAQ/65%/new

9,800

9,800

0

Rail station

Zhengzhou

Peru

FAQ/65%/new

-

-

-

 

Wuhan

Peru

FAQ/65%/new

-

-

-

 

Shenyang

Peru

FAQ/65%/new

-

-

-

 

Chengdu

Peru

FAQ/65%/new

-

-

-

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1478 (Jan 14)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal softened to US$1,530/tonne with the fish harvest bountiful.
 
Peru's fish catch in the northern and central seas as of January 7 totalled 2.03 million tonnes, which was about 97% of the 2.1 million tonnes quota.
 
 
Market analysis
 
Demand for fishmeal remained slow as usages in feed production were limited. Moreover, supplies are expected to be abundant with Peru's fish catch meeting target. Nonetheless, as port inventories were low, prices remained stable over the week in review.
 
Price quotes for Peruvian prime-grade products were in the range of RMB10,600-10,800/tonne.
 
 
Market forecast
 
The drop in the import costs to Peruvian fishmeal, resulting from the bountiful fish harvest, will allow Chinese traders to lower prices without sacrificing profit margins. With demand tepid, fishmeal traders are expected to negotiate prices in a bid to entice buyers.
 

 

 

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