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MARKET

July 14, 2017

China Fishmeal Weekly: Subdued demand holds prices flat (week ended Jul 13, 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
Jul 6

Price as of
Jul 13

Price change

Port

Dalian

Peru

FAQ/65%/new

9,400

9,400

0

 

Tianjin

Peru

FAQ/67%/new

9,400

9,400

0

 

Shanghai

Peru

FAQ/65%/new

9,400

9,400

0

 

Huangpu

Peru

FAQ/65%/new

9,400

9,400

0

Rail station

Zhengzhou

Peru

FAQ/65%/new

9,900

9,900

0

 

Wuhan

Peru

FAQ/65%/new

9,900

9,900

0

 

Shenyang

Peru

FAQ/65%/new

9,500

9,500

0

 

Chengdu

Peru

FAQ/65%/new

10,000

10,000

0

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1476 (Jul 14)

 
 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal strengthened to the range of US1,420-1,430/tonne.
 
Peru's fish catch in the northern seas as of July 9 totalled 2.26 million tonnes, which was 81% of the 2.8 million tonnes quota.
  
                                           
Market analysis
 
Despite rising costs of Peruvian fishmeal, prices remained flat in China amid cautious demand. Aqua feed millers were reluctant to increase stockpile while the disease rates of shrimp were high, particularly in the southern region, due to adverse climate conditions. Nonetheless,  traders stood firm amid low inventory pressure.
 
Price quotes for prime-grade products stayed stable the range of RMB10,400-10,600/tonne.
 

Market forecast
 
Sales of fishmeal are less likely to dwindle prominently as end-users have limited stocks to rely on. With import costs climbing, fishmeal prices are seen stable to higher unless shrimp production diminishes tremendously due to high infection rates.
 

 

 


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