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Market Reports

July 11, 2018

China Whey Weekly: Prices rally amid trade war, weaker renminbi (week ended Jul 9, 2018)

An eFeedLink Exclusive
 
 
Price summary

Prices strengthened lately. 
 

Weekly port transaction prices of whey in China

Specification

Port

Price as of Jul 2
(RMB/tonne)

Price as of Jul 9
(RMB/tonne)

Price Changes
(RMB/tonne)

Low protein

Shanghai

6,200

6,300

100

 

Tianjin

6,200

6,200

0

 

Shandong

6,200

6,200

100

 

Guangdong

6,400

6,500

100

 

Jiangsu

-

-

-

 

Beijing

6,300

6,300

0

 

Inner Mongolia

-

-

-

High protein

Shanghai

7,500

7,500

0

 

Tianjin

7,500

9,500

2000

 

Shandong

-

-

-

 

Guangdong

7,500

7,500

0

 

Jiangsu

-

-

-

 

Beijing

7,500

8,500

1000

 

Inner Mongolia

-

-

-

Prices refer to port transaction prices for bulk purchases in Dalian, Shanghai, Guangzhou, etc, and are for reference only.
RMB1=US$0.1499 (Jul 11)

 
 
Suppliers' quotes

Price quotes of US feed-grade whey were in the range of US$441-529/tonne.
 

Market analysis

Although the prices of US whey softened lately, imports costs of whey surged after China imposed a 25% tariff on US dairy imports starting July 6. This, together with a sharply depreciated renminbi, which tumbled a whopping 5% in June, sent prices of high-protein whey products soaring.
 

Market forecast

The demand for whey is already weak with piglet population low and the hog sector incurring high losses. With whey prices surging tremendously, sales will dwindle further as feed millers source for cheaper substitutes.
 

Remarks: Prices refer to port transaction prices of low-protein whey and are for reference only.


Remarks: Prices refer to CIF China price quotes (US-Dollar) of low-protein whey and are for reference only.


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