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Market Reports

August 6, 2019

China Fishmeal Weekly: Traders face mounting pressure (week ended Aug 2, 2019)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices stayed stable.
 

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 26

Price as of
Aug 2

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

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$0.1420 (Aug 5)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal were at US$1,560/tonne.
 
The fishing season in Peru's central and northern sea ended on July 31. The total fishing volume totalled 2.1 million tonnes, which was 95.5% of the quota.
 
 
Market analysis
 
Poor demand for hog feed and slow rise in the production of aqua feed resulted in slow sales of fishmeal. Port inventories climbed to 268,700 tonnes, up by 1.7% compared with the previous week. However, fishmeal traders were reluctant to negotiate prices as profit margins were low.
 
Price quotes for Peruvian prime-grade products softened to the range of RMB11,080-11,200/tonne.
 
 
Market forecast
 
Fishmeal market will be under pressure as port inventories continue to increase. Traders are likely to cut prices in efforts to move sales.
 

 

 

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