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November 18, 2016
 
China Fishmeal Weekly: Lower Peruvian fishmeal costs help Chinese traders cut prices (week ended Nov 17, 2016)
                                  
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
Nov 10

Price as of
Nov 17

Price change

Port

Dalian

Peru

FAQ/65%/new

10,500

10,300

-200

 

Tianjin

Peru

FAQ/67%/new

10,500

10,300

-200

 

Shanghai

Peru

FAQ/65%/new

10,500

10,300

-200

 

Huangpu

Peru

FAQ/65%/new

10,500

10,300

-200

Rail station

Zhengzhou

Peru

FAQ/65%/new

11,000

10,800

-200

 

Wuhan

Peru

FAQ/65%/new

11,100

10,900

-200

 

Shenyang

Peru

FAQ/65%/new

10,700

10,500

-200

 

Chengdu

Peru

FAQ/65%/new

11,200

11,000

-200

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1454 (Nov 18)

 
 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal were lower at S$1,600/tonnes.
 
The quota for the new fishing season was fixed at 2 million tonnes.
 
 
Market analysis
 
Sales of fishmeal in China slid amid waning demand from the aquacultures sector and slow piglet feed consumption.  As the import costs of Peruvian fishmeal softened, traders cut prices as well in efforts to entice buyers.
 
Price quotes for prime-grade products were mainly at RMB11,800/tonne.
 
 
Market forecast
 
Dwindling aqua feed production and limited piglet feed consumption will put a lid on the sales of fishmeal in China. However, as prices are at breakeven levels and renminbi is likely to depreciate further, traders will stand firm unless the costs of Peruvian fishmeal fall further.
 


 
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