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Livestock & Feed Market

July 30, 2018
 
China Fishmeal Weekly: Rising port inventories hold down prices (ended Jul 27, 2017)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices were flat.
 

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 20

Price as of
Jul 27

Price change

Port

Dalian

Peru

FAQ/65%/new

10,000

10,000

0

 

Tianjin

Peru

FAQ/67%/new

10,000

10,000

0

 

Shanghai

Peru

FAQ/65%/new

9,800

9,800

0

 

Huangpu

Peru

FAQ/65%/new

9,800

9,800

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$0.1464 (Jul 30)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal were unchanged at US$1,620/tonne. Pre-sales FOB price quotes for August/September deliveries stayed at USD1,600/tonne.
 
Totalling 3.16 million tonnes as of July 23, fish catch in the northern and central seas achieved 95% of the quota. Peru is unlikely to fulfil the quota with the season ending in a week.
 
Pre-sales prices strengthened to US$1,600/tonne, amid firm demand. 
 
 
Market analysis
 
Although import costs of Peruvian fishmeal continued to rise as renminbi slid further, traders were unable to lift prices with port inventories expanding to 130,000 tonnes. As aqua feed producers withheld buying amid concerns of slower demand due to floods and typhoon, sales of fishmeal were sluggish over the week.
 
Price quotes for Peruvian prime-grade products were unchanged at RMB11,800-12,000/tonne.
 

Market forecast
 
Fishmeal prices are expected to stay around current levels. Despite rising import costs, piling inventories and cautious demand will put a lid on the prices.
 

 


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