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November 4, 2016
 
China Fishmeal Weekly: Traders fail to lift prices despite higher costs (week ended Nov 3, 2016)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices were unchanged.
 

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 27

Price as of
Nov 3

Price change

Port

Dalian

Peru

FAQ/65%/new

10,500

10,500

0

 

Tianjin

Peru

FAQ/67%/new

10,500

10,500

0

 

Shanghai

Peru

FAQ/65%/new

10,500

10,500

0

 

Huangpu

Peru

FAQ/65%/new

10,500

10,500

0

Rail station

Zhengzhou

Peru

FAQ/65%/new

11,000

11,000

0

 

Wuhan

Peru

FAQ/65%/new

11,100

11,100

0

 

Shenyang

Peru

FAQ/65%/new

10,700

10,700

0

 

Chengdu

Peru

FAQ/65%/new

11,200

11,200

0

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1479 (Nov 4)

 
 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal strengthened to the range of US$1,600-1,630/tonnes as market participants anticipated a low fishing quota for the upcoming season.
 
 
Market analysis
 
Despite climbing prices of Peruvian products and a weak renminbi, which pushed up the import costs, China's fishmeal market remained soft amid slack demand. Aqua feed producers were reluctant to stock inventories while the sales of aqua feed dwindled prominently lately due to plunging aquaculture production.
 
Price quotes for prime-grade products stayed in the range of RMB12,000-12,200/tonne.
 
 
Market forecast
 
Traders will be tempted to lift prices with the costs of fishmeal imports rising. However, with aqua feed production diminishing and piglet population flat, sluggish sales of fishmeal will put a lid on the prices.
 
 

 


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