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September 2, 2016

China Fishmeal Weekly: Waning demand, prudent mood, lower import cost weaken prices (week ended Sep 1, 2016)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices dipped further.
 

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 25

Price as of
Sep 1

Price change

Port

Dalian

Peru

FAQ/65%/new

11,600

11,300

-300

 

Tianjin

Peru

FAQ/67%/new

11,600

11,300

-300

 

Shanghai

Peru

FAQ/65%/new

11,600

11,300

-300

 

Huangpu

Peru

FAQ/65%/new

11,600

11,300

-300

Rail station

Zhengzhou

Peru

FAQ/65%/new

12,100

11,800

-300

 

Wuhan

Peru

FAQ/65%/new

12,200

11,900

-300

 

Shenyang

Peru

FAQ/65%/new

11,800

11,500

-300

 

Chengdu

Peru

FAQ/65%/new

12,300

12,000

-300

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1499 (Sep 2)

 
 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal slid prominently by US$200/tonnes to US$1,650/tonnes amid slack demand.
 
 
Market analysis
 
Sales of fishmeal was poorer than expected, partly because aqua feed consumption dropped from peak levels due to diminished production, and partly due to feed producers holding back procurements. Traders cut prices readily in efforts to entice buyers while import costs fell further over the week.
 
Price quotes for prime-grade products dropped substantially to the range of RMB12,800-13,000/tonne.
 
 
Market forecast
 
Aquaculture production will continue to shrink with the season nearing its end. Fishmeal market will weaken further as feed producers are unlikely to increase procurements, particularly while prices of Peruvian fishmeal look set to stay soft.
 

 
 


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