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August 19, 2016

China Fishmeal Soft demand drags down prices (week ended Aug 18, 2016)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved 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
Aug11

Price as of
Aug 18

Price change

Port

Dalian

Peru

FAQ/65%/new

12,100

12,000

-100

 

Tianjin

Peru

FAQ/67%/new

12,100

12,000

-100

 

Shanghai

Peru

FAQ/65%/new

12,100

11,800

-300

 

Huangpu

Peru

FAQ/65%/new

12,100

11,800

-300

Rail station

Zhengzhou

Peru

FAQ/65%/new

12,500

12,300

-200

 

Wuhan

Peru

FAQ/65%/new

12,700

12,400

-300

 

Shenyang

Peru

FAQ/65%/new

12,300

12,200

-100

 

Chengdu

Peru

FAQ/65%/new

12,800

12,500

-300

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1508 (Aug 19)

 
 
Global markets
 
FOB prices of Peruvian CNF fishmeal slid to US$1,850-1,880/tonnes. Despite limited stocks, sluggish demand for fishmeal compelled traders to lower prices.
 
 
Market analysis
 
Feed millers continued to withhold buying as sales of aqua feed slowed of late while aquaculture production stagnated after reaching annual peak levels. As import costs of Peruvian fishmeal softened, traders were more willing to cut prices in efforts to move sales.
 
Price quotes for prime-grade products dropped to the range of RMB13,300-13,500/tonne.
 
 
Market forecast
 
Aqua feed sales are unlikely to increase in the coming period as aqua farms are reluctant to stock inventories in anticipation of dwindling production due to colder climates in September. This will put a lid on the prices of fishmeal despite tight availability from Peru.
 


 
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