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January 20, 2017

China Fishmeal Weekly: Price cuts fail to stimulate buying interest (week ended Jan 19, 2017)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved lower.
.

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 12

Price as of
Jan 19

Price change

Port

Dalian

Peru

FAQ/65%/new

10,000

10,300

-100

 

Tianjin

Peru

FAQ/67%/new

10,000

10,300

-100

 

Shanghai

Peru

FAQ/65%/new

10,000

10,300

-100

 

Huangpu

Peru

FAQ/65%/new

10,000

10,300

-100

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,500

10,800

-100

 

Wuhan

Peru

FAQ/65%/new

10,600

10,900

-100

 

Shenyang

Peru

FAQ/65%/new

10,200

10,500

-100

 

Chengdu

Peru

FAQ/65%/new

10,700

11,000

-100

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1457 (Jan 20)

 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal fell by US$20/tonne to US$1,530/tonne with supplies ample.
 
As of January 15, Peru's fish catch in the northern seas totalled 1.74 million tonnes, fulfilling 87% of the 2.64 million tonnes quota.
 
The fishing season in the southern seas will commence on January 17 and end on June 30. At 515,000 tonnes, the fishing quota is 34.8% higher compared with the previous year.
      
                                       
Market analysis
 
China's fishmeal market weakened as traders cut prices in a bid to entice buyers. As renminbi continued to stay firm while Peruvian fishmeal price quotes slid further, traders were in a better position to negotiate prices. Nonetheless, sales showed little improvement with demand from the aquaculture sector almost non-existent and feed output for the livestock limited.
 
Price quotes for prime-grade products were lower in the range of RMB11,600-11,800/tonne.
 
 
Market forecast
 
Traders will be willing to negotiate prices to stimulate buying interest. However, with more and more feed producers halting operation as the Chinese New Year approaches, sales are unlikely to increase even if prices of fishmeal fall further.
 

 

 

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