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November 10, 2008

China Fishmeal Weekly: Prices fall further (week ended Nov 9, 2008)

An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to lower in most regions. 
 

Weekly transacted prices of imported fishmeal at major Chinese ports

Port/Inland city

Origin

Protein content (%)

Price as of Nov 2 (RMB/tonne)

Price as of Nov 9 (RMB/tonne)

Price change (RMB/tonne)

Dalian

Peru 

FAQ/65%/new

6,150

6,100

-50

SD/65%/new

6,200

6,200

0

Tianjin 

Peru 

FAQ/65%/new

6,200

6,100

-100

SD/65%/new

6,200

6,200

0

Shanghai 

Peru 

FAQ/65%/new

6,100

6,000

-100

SD/65%/new

6,100

6,100

0

SD/67%/new

6,800

6,700

-100

Huangpu

Peru 

FAQ/65%/new

6,100

6,000

-100

SD/65%/new

6,100

6,100

0

SD/67%/new

6,800

6,700

-100

Shenyang

Peru

FAQ/65%/new

6,200

6,200

0

Zhengzhou

Peru

FAQ/65%/new

6,300

6,300

0

Wuhan

Peru

FAQ/65%/new

6,300

6,300

0

Changsha

Peru

FAQ/65%/new

6,300

6,300

0

Chengdu

Peru

FAQ/65%/new

6,300

6,300

0

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1465 (Nov 10)

 
 
Global markets
 
Peru's fishing season will begin on November 15 and end on December 7. The catch quota has been fixed at 2 million tonnes.
 
FOB China reference quotes for standard Peruvian flame-dried fishmeal stayed at S$790-$800/tonne.
 

Market analysis
 
Aquaculture rearing entered its lull season with the arrival of cold weather, while rearing profits for other livestock species remained weak. Feed millers were thus cautious with fishmeal replenishment, thus the sluggish trade activity.
 
Total port inventories exceeded 200,000 tonnes.
 
 
Market forecast
 
Fishmeal prices will likely fall further in the near-term.

 


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