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September 9, 2016

 

China Fishmeal Weekly: Prices dip 9% in four weeks (week ended Sep 8, 2016)

                                  
An eFeedLink Exclusive
 
 

Price summary
 

Prices fell prominently­­­­.
 
 

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
Sep 1

Price as of
Sep 8

Price change

Port

Dalian

Peru

FAQ/65%/new

11,300

11,000

-300

 

Tianjin

Peru

FAQ/67%/new

11,300

11,000

-300

 

Shanghai

Peru

FAQ/65%/new

11,300

11,000

-300

 

Huangpu

Peru

FAQ/65%/new

11,300

11,000

-300

Rail station

Zhengzhou

Peru

FAQ/65%/new

11,800

11,500

-300

 

Wuhan

Peru

FAQ/65%/new

11,900

11,600

-300

 

Shenyang

Peru

FAQ/65%/new

11,500

11,200

-300

 

Chengdu

Peru

FAQ/65%/new

12,000

11,700

-300

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1499 (Sep 9)

 

Global markets

 

FOB prices of Peruvian prime-grade fishmeal dropped US$20-50/tonnes to US$1,600-1,630/tonnes despite unsold inventories falling below 20,000 tonnes.

 

Market analysis
 

More imports of fishmeal arrived lately, exceeding the sales of the product as feed millers limited purchases while the aquaculture season approached its end. Traders readily negotiated prices amid mounting inventory pressure.

 

Over the past four weeks, fishmeal prices have tumbled 9% accumulatively in China.

 

Price quotes for prime-grade products slid to around RMB12,600/tonne.

 

Market forecast

 

China's fishmeal market will remain weak as demand slackens further in the coming weeks with aqua feed production dwindling. Competing to clear excess stocks traders will cut prices further.

 


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