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Livestock & Feed Market

July 11, 2018


China Fishmeal Weekly: Improved demand, high costs underpin prices (ended Jul 6, 2017)
 
An eFeedLink Exclusive

 

 

Price summary


Prices were unchanged.

 

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 29

Price as of
Jul 6

Price change

Port

Dalian

Peru

FAQ/65%/new

10000

10000

0

 

Tianjin

Peru

FAQ/67%/new

10000

10000

0

 

Shanghai

Peru

FAQ/65%/new

9800

9800

0

 

Huangpu

Peru

FAQ/65%/new

9800

9800

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$0.1499 (Jul 11)

 
           

Global markets


CNF prices of Peruvian prime-grade fishmeal stayed at US$1,620/tonne. Pre-sales price quotes for August/September deliveries were at USD1,600/tonne.

 


Market analysis


More shipments of Peruvian fishmeal arrived lately. However, demand for fishmeal picked up as well, as aqua farming thrived under the warm summer climates.


Even as port inventories expanded to 126,000 tonnes, which was higher by 5% over the week, fishmeal traders held prices firm, partly due to higher import costs amid a weakening renminbi and partly due to stronger outlook of the aquaculture sector.


Price quotes for Peruvian prime-grade products strengthened to RMB11,800-12,00/tonne.

   
Market forecast


Fishmeal traders will be reluctant to negotiate prices as import costs have increased following the sharp depreciation of renminbi. Nonetheless, with feed millers staying prudent and port inventories ample, fishmeal prices are unlikely to rise tremendously.
 
 
 


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