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Market Reports

February 18, 2020
 
China Fishmeal Weekly: Prices stable amid light trade, shrinking availability (week ended Feb 14, 2020)
                             
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
Feb 7

Price as of
Feb 14

Price change

Port

Dalian

Peru

FAQ/65%/new

12,300

12,300

0

Tianjin

Peru

FAQ/67%/new

12,300

12,300

0

Shanghai

Peru

FAQ/65%/new

12,300

12,300

0

Huangpu

Peru

FAQ/65%/new

12,300

12,300

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$0.1430 (Feb 18)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal remained at US$1,750/tonne due to weak demand from China.
 
In Sechura, Peru several thousands of fishermen went on street to protest the shortened fishing season. They aimed to collect 5,000 signatures to petition for the lifting of the emergency fishing ban implemented on January 15.
 

Market analysis
 
Despite dwindling port inventories, which dropped 1.4% to 131,500 tonnes, fishmeal prices remained stable in China. Trading was difficult with deliveries hampered and workers inadequate due to the COvid-19 epidemic. Traders were mainly making deliveries to fulfil previously concluded orders.
 
Price quotes for Peruvian prime-grade products were unchanged at RMB13,200-13,500/tonne.
 

Market forecast
 
Although diminishing port inventories and low availability fishmeal in Peru should work to lift prices, the outlook of the market remains uncertain. While feed millers intend to rebuild falling stocks, they will stay prudent as China's economy is set to suffer a heavy blow due to the coronavirus outbreak.
 

 

 

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