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MARKET

August 13, 2019

China Fishmeal Weekly: Port inventories expand further (week ended Aug 9, 2019)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices remained 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
Aug 2

Price as of
Aug 9

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$0.1416 (Aug 13)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal stayed at US$1,560/tonne.
 
The quota for Peru's fishing season in the southern seas (Aug-5-Dec 31) is set at 540,000 tonnes.
 
 
Market analysis
 
Port inventories of fishmeal climbed 1.9% to 273,900 tonnes in China with sales staying poor. Nonetheless, traders held prices firm as renminbi has depreciated tremendously of late, hence substantially lifting the costs of fishmeal imports.
 
Price quotes for Peruvian prime-grade products softened to the range of RMB10,800-10.900/tonne.
 
 
Market forecast
 
With the sales of aqua feed falling below expectations due to disruptions of aqua farming in the south, fishmeal demand will continue to remain weak. However, traders will be cautious in negotiating prices as the costs of fishmeal imports have increased due to the weakening of renminbi.
 

 

 


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