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October 21, 2016
 
China Fishmeal Weekly: Import cost surge lifts prices despite lacklustre demand (week ended Oct 20, 2016)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved higher.
 

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
Oct 13

Price as of
Oct 20

Price change

Port

Dalian

Peru

FAQ/65%/new

10,400

10,500

100

 

Tianjin

Peru

FAQ/67%/new

10,400

10,500

100

 

Shanghai

Peru

FAQ/65%/new

10,400

10,500

100

 

Huangpu

Peru

FAQ/65%/new

10,400

10,500

100

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,900

11,000

100

 

Wuhan

Peru

FAQ/65%/new

11,000

11,100

100

 

Shenyang

Peru

FAQ/65%/new

10,600

10,700

100

 

Chengdu

Peru

FAQ/65%/new

11,100

11,200

100

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1480 (Oct 21)

 
 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal stayed in the range of US$1,590-1,600/tonnes.
 
Pre-sales of fishmeal for the new fishing season amounted to 130,000 tonnes amid firm export orders. The new fishing season, which should commence during late October, is expected to have a quota of around 200,000 tonnes.
 
 
Market analysis
 
Buying interest for fishmeal was weak in China with aquaculture production dwindling and the hog market showing no signs of stabilising. Nonetheless, import costs surged lately due to the prominent depreciation of renminbi, prompting traders to lift prices to sustain profit margins.
 
Price quotes for prime-grade products increased to the range of RMB11,800-12,200/tonne.
 
 
Market forecast
 
The demand for fishmeal will fall with the aquaculture season approaching its end. However, as import costs are high amid a weakening renminbi, fishmeal traders will be prudent in lowering prices.
 

 

 


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