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Livestock & Feed Market

November 5, 2018

China Fishmeal Weekly: Mounting stocks pressure traders to cut prices in (ended Nov 2, 2017)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices moved 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
Oct 26

Price as of
Nov 2

Price change

Port

Dalian

Peru

FAQ/65%/new

10,600

10,400

-200

 

Tianjin

Peru

FAQ/67%/new

10,500

10,500

0

 

Shanghai

Peru

FAQ/65%/new

10,600

10,400

-200

 

Huangpu

Peru

FAQ/65%/new

10,600

10,400

-200

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$0.1451 (Nov 5)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal remained around US$1,620/tonne but producers were willing to lower transaction prices amid light trade.
 
Meanwhile, market participants were optimistic about the fish catch in the northern seas, hence limiting the upward scope of fishmeal market.
 
 
Market analysis
 
Demand for fishmeal weakened in China with aquaculture output shrinking at a faster pace entering winter. Port inventories continued to expand, compelling traders to cut prices in order to move sales.
 
Price quotes for Peruvian prime-grade products slid to the range of RMB11,500-11,700/tonne.
 
 
Market forecast
 
Fishmeal market is projected to weaken as demand from the aquaculture sector continues to dwindle. Moreover, with renminbi appreciating strongly lately, traders will be more willing to negotiate prices amid falling import costs.
 
 

 
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