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Executive Talk

July 29, 2019

China Fishmeal Weekly: Prices stay flat despite soaring import costs (week ended Jul 5, 2019)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices stayed 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 28

Price as of
Jul 5

Price change

Port

Dalian

Peru

FAQ/65%/new

10,000

10,100

0

 

Tianjin

Peru

FAQ/67%/new

10,300

10,300

0

 

Shanghai

Peru

FAQ/65%/new

10,000

10,000

0

 

Huangpu

Peru

FAQ/65%/new

10,000

10,000

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$0.1461 (Jul 1)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal soared to US$1,630/tonne in anticipation of lower-than expected fish catch.
 
As of July 3, the total fishing volume in Peru's central and northern sea totalled 1.85 million tonnes, which was 88% of the 2.1 million tonnes quota.
 
Meanwhile, fishing in the southern seas ended on June 30. Total fishing volume totalled 177,548 tonnes, completing 33% of the 540,000 tonnes quota.
 
 
Market analysis
 
Fishmeal demand improved at a slow pace as aqua feed producers stayed cautious. With port inventories remaining high above 220,000 tonnes, prices of lower grade products were flat although those of prime-grade fishmeal strengthened amid higher import costs.
 
Price quotes for Peruvian prime-grade products were in the range of RMB11,200-11,300/tonne.
 
 
Market forecast
 
Soaring Peruvian fishmeal costs will lend support to the Chinese market. However, with demand poor, the upward scope of fishmeal market will be limited.
 

 

 


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