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MARKET

April 21, 2017
 
China Fishmeal Weekly: Climbing port inventory holds down prices (week ended Apr 20, 2017)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices were flat.
 

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
Apr 13

Price as of
Apr 20

Price change

Port

Dalian

Peru

FAQ/65%/new

10,000

10,000

0

 

Tianjin

Peru

FAQ/67%/new

10,001

10,001

0

 

Shanghai

Peru

FAQ/65%/new

10,002

10,002

0

 

Huangpu

Peru

FAQ/65%/new

10,003

10,003

0

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,500

10,500

0

 

Wuhan

Peru

FAQ/65%/new

10,600

10,600

0

 

Shenyang

Peru

FAQ/65%/new

10,100

10,100

0

 

Chengdu

Peru

FAQ/65%/new

10,700

10,700

0

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1453 (Apr 21)

 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal were mainly around US1,510/tonne.
 
As of April 9, Peru's fish catch in the southern seas was 130,277 tonnes.
 
IMARPE has not announced the result of the study in the northern seas but market participants projected the quota for the upcoming season to be in the range of 2-3 million tonnes.
            
                                 
Market analysis
 
Demand for fishmeal remained slow as aqua feed producers stayed cautious while aqua farming in southern China was hampered by stormy weather. As port inventories climbed to 162,000 tonnes, several traders negotiated prices on a case-by-case basis.
 
Price quotes for prime-grade products were softer in the range of RMB11,300-11,500/tonne.
 
 
Market forecast
 
Fishmeal market should remain soft in the near term as import costs of Peruvian products have fallen. Traders who are eager to clear stocks will continue to cut prices.
 
 

 


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