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Market Reports
 
March 26, 2018

China Fishmeal Weekly: Mounting inventory pressure softens prices (week ended Mar 23, 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
Mar 16

Price as of
Mar 23

Price change

Port

Dalian

Peru

FAQ/65%/new

12700

12500

-200

 

Tianjin

Peru

FAQ/67%/new

12900

12700

-200

 

Shanghai

Peru

FAQ/65%/new

12700

12500

-200

 

Huangpu

Peru

FAQ/65%/new

12700

12500

-200

Rail station

Zhengzhou

Peru

FAQ/65%/new

13500

13300

-200

 

Wuhan

Peru

FAQ/65%/new

12700

12500

-200

 

Shenyang

Peru

FAQ/65%/new

12700

12500

-200

 

Chengdu

Peru

FAQ/65%/new

12700

12500

-200

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1583 (Mar 26)

 
 
Global markets

CNF prices of Peruvian prime-grade fishmeal were mainly around US$1,750/tonne while demand slowed.

In Peruvian southern seas, total fish catch were at 88,468 tonnes as of March 18, fulfilling 16.5% of the 535,000 tonnes quota. The fishing season will end on April 6.
 

Market analysis

Port inventories of fishmeal climbed 5% to 98,700 tonnes, exerting pressure to traders. In a bid to clear stocks, traders cut prices to entice buyers who were not keen to build inventories.

Price quotes for Peruvian prime-grade products were in the range of RMB13,600-13,800/tonne.
 

Market forecast

Fishmeal prices are likely to slide further as traders face mounting inventory pressure. Nonetheless, with supplies from Peru tight due to low fish catch, and aqua feed production set to expand, price falls are expected to be limited.
 
 

 


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