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November 24, 2008
 
China Fishmeal Weekly: Prices continue to rise (week ended Nov 23, 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 16 (RMB/tonne)

Price as of Nov 23(RMB/tonne)

Price change (RMB/tonne)

Dalian

Peru 

FAQ/65%/new

6,100

6,250

150

SD/65%/new

6,200

6,300

100

Tianjin 

Peru 

FAQ/65%/new

6,100

6,200

100

SD/65%/new

6,200

6,300

100

Shanghai 

Peru 

FAQ/65%/new

6,050

6,200

150

SD/65%/new

6,150

6,250

100

SD/67%/new

6,700

6,800

100

Huangpu

Peru 

FAQ/65%/new

6,050

6,200

150

SD/65%/new

6,100

6,200

100

SD/67%/new

6,700

6,800

100

Shenyang

Peru

FAQ/65%/new

6,200

6,400

200

Zhengzhou

Peru

FAQ/65%/new

6,300

6,500

200

Wuhan

Peru

FAQ/65%/new

6,300

6,500

200

Changsha

Peru

FAQ/65%/new

6,300

6,500

200

Chengdu

Peru

FAQ/65%/new

6,300

6,500

200

Prices refer to port transaction prices and are for reference only.
RMB1 = US$0.1464 (Nov 24)

 
 

Global markets

 

Prices of Peruvian fishmeal increased during the week.


FOB China reference quotes for standard Peruvian flame-dried fishmeal increased by RMB100-200/tonne from the previous week to settle at RMB6,200-6,300/tonne, while CNF reference quotes for Peruvian fishmeal rose from US$830/tonne to US$850/tonne.

 

 

Market analysis
 

Higher import prices propped up fishmeal prices in China. Despite that however, fishmeal trade was active and port inventories fell to 198,000 tonnes as of November 21.


According to statistics from the Customs Authority, China imported about 100,000 tonnes of fishmeal in January. Accumulated imports from January to October 2008 amounted to between 1.25 million tones and 1.30 million tones. This was an increase of 49 percent on-year.  

 

 

Market forecast

 

Fishmeal prices may fall in the near-term with the arrival of more imports.
 
 
 
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