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March 17, 2017
 
China Fishmeal Weekly: Mounting inventory pressure compels traders to cut prices (week ended Mar 16, 2017)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices remained 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
Mar 9

Price as of
Mar 16

Price change

Port

Dalian

Peru

FAQ/65%/new

10,200

10,000

-200

 

Tianjin

Peru

FAQ/67%/new

10,200

10,000

-200

 

Shanghai

Peru

FAQ/65%/new

10,200

10,000

-200

 

Huangpu

Peru

FAQ/65%/new

10,200

10,000

-200

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,700

10,500

-200

 

Wuhan

Peru

FAQ/65%/new

10,800

10,600

-200

 

Shenyang

Peru

FAQ/65%/new

10,400

10,200

-200

 

Chengdu

Peru

FAQ/65%/new

10,900

10,700

-200

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1450 (Mar 17)

 
 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal remained at US$1,530/tonne.
 
Due to a high proportion of small fish in the southern seas, Peru issued a fishing ban for 3-5 days during March 8-12. With the fish catch falling below expectations, prices of fishmeal stayed firm amid concerns of tight supplies.
      
                                       
Market analysis
 
Demand for fishmeal showed increased of late as aqua feed producers stock inventories in preparation for the upcoming aqua farming season. However, as soymeal prices stayed soft, usages of fishmeal in livestock feed production was limited.
 
Consequently, port inventories of fishmeal continued to expand as more shipments arrived. Several traders cut prices in efforts to clear mounting stocks.
 
Price quotes for prime-grade products remained in the range of RMB11,300-11,500/tonne.
 
 
Market forecast
 
After the recent price cuts, fishmeal traders will be more prudent in giving discounts, as the costs of Peruvian fishmeal stays firm. Moreover, the production of aqua feed is poised to gain momentum, lending support to the fishmeal market.
 

 


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