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February 24, 2017
 
China Fishmeal Weekly: Inventory rises amid slack demand (week ended Feb 23, 2017)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices were unchanged.
 

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 16

Price as of
Feb 23

Price change

Port

Dalian

Peru

FAQ/65%/new

10,200

10,200

0

 

Tianjin

Peru

FAQ/67%/new

10,200

10,200

0

 

Shanghai

Peru

FAQ/65%/new

10,200

10,200

0

 

Huangpu

Peru

FAQ/65%/new

10,200

10,200

0

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,700

10,700

0

 

Wuhan

Peru

FAQ/65%/new

10,800

10,800

0

 

Shenyang

Peru

FAQ/65%/new

10,400

10,400

0

 

Chengdu

Peru

FAQ/65%/new

10,900

10,900

0

All prices are representative and are for reference only.
RMB1=US$0.1454 (Feb 24)

 

Global markets
 
FOB prices of Peruvian prime-grade fishmeal slid to US$1,530/tonne.
 
As of February 17, Peru's fish catch in the southern was around 50,000 tonnes.
                     
                        
Market analysis
 
As sales of piglet feed were low due to diminished inventories while aqua feed production fell to annual lows, feed producers were reluctant to stockpile fishmeal. Nonetheless fishmeal traders held prices firm after recent week's price cuts.
 
Port inventories of fishmeal in China increased to 72,000 tonnes amid slow demand.
 
Price quotes for prime-grade products were stable to lower in the range of RMB11,500-11,600/tonne.
 
 
Market forecast
 
Demand for fishmeal is unlikely to improve in the near term as feed output stays low. Fishmeal traders will be under pressure to negotiate prices as port inventories continue to mount.
 
 

 

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