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Executive Talk

July 29, 2019
 
China Fishmeal Weekly: Traders sunder pressure amid mounting stocks (week ended Jul 12, 2019)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to lower.
 

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 5

Price as of
Jul 12

Price change

Port

Dalian

Peru

FAQ/65%/new

10,100

10,000

0

 

Tianjin

Peru

FAQ/67%/new

10,300

10,200

-100

 

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$0.1454 (Jul 15)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal remained firm at US$1,630/tonne.
 
As of July 9, the total fishing volume in Peru's central and northern sea totalled 1.87 million tonnes, which was 89% of the 2.1 million tonnes quota.
 
 
Market analysis
 
Despite higher import costs of US products, prices of fishmeal remained soft. Demand for fishmeal was soft with piglet population diminishing and the recovery of the aquaculture sector disrupted by floods and storms in several regions.
 
Meanwhile, port inventories of fishmeal surged 10% to 242,100 tonnes, compelling traders in some regions to cut prices to entice buyers.
 
Price quotes for Peruvian prime-grade products were in the range of RMB11,100-11,300/tonne.
 
 
Market forecast
 
Fishmeal demand is expected to remain slack in the coming weeks. As port inventories continue to expand, traders may be compelled to cut prices in order to clear excess stocks to minimise losses.
 

 

 


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