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Market Reports

September 2, 2019
 
China Fishmeal Weekly: Stocks continue to rise (week ended Aug 30, 2019)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to 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
Aug 23

Price as of
Aug 30

Price change

Port

Dalian

Peru

FAQ/65%/new

9,700

9,700

0

 

Tianjin

Peru

FAQ/67%/new

9,900

9,700

-200

 

Shanghai

Peru

FAQ/65%/new

9,700

9,700

0

 

Huangpu

Peru

FAQ/65%/new

9,700

9,700

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$0.1399 (Sep 2)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal dropped prominently by US$70/tonne to US$1,350/tonne amid sluggish demand.
 
As of August 27, 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
 
Traders who stood firm previously cut prices to remain competitive while the costs of Peruvian fishmeal plunged. Nonetheless, fishmeal demand remained sluggish as aqua feed producers were reluctant to stock inventories with the aquaculture season ending soon and the economy of China weak.
 
Port inventories of fishmeal climbed to 283,600 tonnes.
 
Price quotes for Peruvian prime-grade products consolidated around RMB10,400/tonne.
 
 
Market forecast
 
Fishmeal prices are likely to fall as traders attempt to trim stocks before the aquaculture season ends with the climates turning cold. The price cuts will be assisted by the recent significant slide in Peruvian fishmeal costs.
 

 

 


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