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Livestock & Feed Market

July 2, 2018

China Fishmeal Weekly: Market under pressure despite stable prices (week ended Jun 29, 2017)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices stayed 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
Jun 22

Price as of
Jun 29

Price change

Port

Dalian

Peru

FAQ/65%/new

10,000

10,000

0

 

Tianjin

Peru

FAQ/67%/new

10,000

10,000

0

 

Shanghai

Peru

FAQ/65%/new

9,800

9,800

0

 

Huangpu

Peru

FAQ/65%/new

9,800

9,800

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$0.1508 (Jul 2)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal remained at US$1,620/tonne. Pre-sales price quotes for July/August deliveries were at USD1,600/tonne.
 
Most producers stood firm while producing to fulfil previously concluded order. Total sales of new fishmeal have exceeded 600,000 tonnes.
 
 
Market analysis
 
Sales of fishmeal slowed lately, resulting port inventory to expand by 7% to 120,000 tonnes as more shipments arrived. While several traders held prices firm amid concerns of higher import costs due to a depreciating renminbi, others cut prices while maintaining high price quotes in a bid to clear stocks.
 
Price quotes for Peruvian prime-grade products were mainly around RMB11,600-11,800/tonne.
 
 
Market forecast
 
With aqua feed production lower than expectations, sales of fishmeal will remain sluggish. Even though import costs have increased, traders will be compelled to cut prices with inventories rising.
 

 

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