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November 17, 2008
 
China Fishmeal Weekly: Prices increase on higher import costs (week ended Nov 16, 2008)

An eFeedLink Exclusive
 
 

Price summary
 

Prices were stable to higher in most regions. 

 

Weekly transacted prices of imported fishmeal at major Chinese ports

Port/Inland city

Origin

Grade/Protein content/
stock type

Price as of Nov 9 (RMB/tonne)

Price as of Nov 16 (RMB/tonne)

Price change (RMB/tonne)

Dalian

Peru 

FAQ/65%/new

6,100

6,100

0

SD/65%/new

6,200

6,200

0

Tianjin 

Peru 

FAQ/65%/new

6,100

6,100

0

SD/65%/new

6,200

6,200

0

Shanghai 

Peru 

FAQ/65%/new

6,000

6,050

50

SD/65%/new

6,100

6,150

50

SD/67%/new

6,700

6,700

0

Huangpu

Peru 

FAQ/65%/new

6,000

6,050

50

SD/65%/new

6,100

6,100

0

SD/67%/new

6,700

6,700

0

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 17)

 
 

Global markets

 

There was strong demand for new Peruvian fishmeal supplies. Out of an initial 200,000 tonnes of fishmeal on offer, 150,000 tonnes have been booked, with  80,000 tonnes being ordered by China importers.


CNF China reference quotes for standard Peruvian fishmeal rose from US$820/tonne to US$835/tonne.

 
 

Market analysis
 

Despite weaker feed demand and lower soymeal prices in China, higher international fishmeal prices have prompted China's feed millers to purchase more fishmeal during the week in review as they expected fishmeal prices to rise further.


At the same time, the detection of melamine in some aqua feed recently has also encouraged higher use of fishmeal.


The average transacted price for imported flame-dried fishmeal was in the range of RMB6,000-6,100/tonne. Port inventories stayed at around 220,000 tonnes.

 
 

Market forecast

 

Marginal falls in fishmeal prices in China are likely in the near-term as feed demand dip further.
 
 
 
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