August 9, 2012
China's fishmeal dealers slashed price amid slack demand
Prices of fishmeal in China fell by almost 3% in the week ending August 9, with FOB prices of Peru's FAQ fishmeal staying stable at US$1,530/tonne.
With the fishing season on July 31, Peruvian fish catch for the season totalled 2.56 million tonnes, 140,000 tonnes short of the permitted fishing volume.
Typhoons in east and south of China disrupted aquaculture production, decimating the demand for fishmeal, which high prices have already curtailed purchases. With new fishmeal shipments arriving soon, several importers eagerly slashed prices in a bid to clear inventories.
Looking ahead, cautious mood of feed millers and the imminent import arrival will weigh on China's fishmeal market.
