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February 17, 2017
 
China Fishmeal Weekly: Traders cut prices amid lower costs, poor demand (week ended Feb 16, 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
Feb 9

Price as of
Feb 16

Price change

Port

Dalian

Peru

FAQ/65%/new

10,300

10,200

-100

 

Tianjin

Peru

FAQ/67%/new

10,300

10,200

-100

 

Shanghai

Peru

FAQ/65%/new

10,300

10,200

-100

 

Huangpu

Peru

FAQ/65%/new

10,300

10,200

-100

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,800

10,700

-100

 

Wuhan

Peru

FAQ/65%/new

10,900

10,800

-100

 

Shenyang

Peru

FAQ/65%/new

10,500

10,400

-100

 

Chengdu

Peru

FAQ/65%/new

11,000

10,900

-100

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1456 (Feb 17)

 
 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal were stable to lower at US$1,550-1,570/tonne.
 
Peru has completed its fishing quota in the northern seas. The fishing season for the southern seas, which would end on June 30, has a total fish catch of 31,678 tonnes as of February 6, slightly over 6% of its 515,000 tonnes quota.
      
                                       
Market analysis
 
Demand for fishmeal was poor with aqua feed output dipping below 200,000 tonnes in January, and maintaining the falling trend. Hog feed producers were reluctant to make purchases as well, as piglet numbers remained low due to limited sow numbers. As fishmeal import costs softened of late, traders took the opportunity to cut prices in attempts to stimulate sales.
 
Price quotes for prime-grade products were softer in the range of RMB11,500-11,800/tonne.
 
 
Market forecast
 
Supplies of fishmeal are set to be plentiful as Peru has met its fishing quota in the northern seas. This, in conjunction with slack demand from China, will drag down the prices of Peruvian fishmeal. With domestic demand sluggish, Chinese traders will cut prices readily so long as import costs move lower.
 


 


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