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Livestock & Feed Market

August 26, 2019
 
China Fishmeal Weekly: Mounting inventory pressure weakens prices (week ended Aug 23, 2019)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices softened lately.
 

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 16

Price as of
Aug 23

Price change

Port

Dalian

Peru

FAQ/65%/new

9,900

9,700

-200

 

Tianjin

Peru

FAQ/67%/new

10,000

9,900

-100

 

Shanghai

Peru

FAQ/65%/new

9,900

9,700

-200

 

Huangpu

Peru

FAQ/65%/new

9,900

9,700

-200

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$0.1399 (Aug 26)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal slid to US$1,420/tonne or lower as producers attempted to promote sales.
 
As of August 21, Peru's fish catch in the southern seas (season: Aug-5-Dec 31) totalled 2,846 tonnes which was a mere 0.53% of the 540,000 tonnes quota.
 
 
Market analysis
 
Demand for fishmeal remained slack while more shipments arrived, hence driving port inventories up to 280,000 tonnes. With import costs of Peruvian fishmeal falling substantially, traders slashed prices in efforts to entice buyers.
 
Price quotes for Peruvian prime-grade products fell to the range of RMB10,400-10,500/tonne.
 
 
Market forecast
 
Sales of fishmeal are expected to be limited as aqua feed producers are not keen to stock inventories with the aquaculture season approaching its end. This, in conjunction with high port inventories, will weigh down fishmeal prices.
 

 
 


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