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February 5, 2018

China Fishmeal Weekly: Market quiet but stable (week ended Feb 2, 2017)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices remained flat.
 

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 26

Price as of
Feb 2

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

12,700

12,700

0

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$0.1587 (Feb 5)

 

Global markets
 
CNF prices of Peruvian prime-grade fishmeal stayed at US$2,000/tonne amid light trade. Most producers halted price releases.
 
Peru's new fishing season in the southern seas, between January 26 and June 30, has a quota of 535,000 tonnes.
 

Market analysis
 
Fishmeal demand stayed weak in China as feed producers were not motivated to increase piglet feed output amid slow consumption. Port inventories continued to climb, rising 4% to 79,000 tonnes, as imports arrived.
 
Despite sluggish sales and expanding stocks, traders stood firm in anticipation of tightening supplies from Peru.
 
Price quotes for Peruvian prime-grade products were in the range of RMB13,800-14,000/tonne, while prices of similar products from Japan remained at RMB13,300-13,800/tonne.
 

Market forecast
 
Demand for fishmeal is poised to remain slack in China, exerting pressure on the market. However, traders will be cautious in cutting prices as supplies from Peru will be limited in the longer term.
 

 

 

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