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November 25, 2016
 
China Fishmeal Weekly: Market weakens further on sliding costs, lacklustre demand (week ended Nov 24, 2016)

An eFeedLink Exclusive
 
 
Price summary

Prices dipped further.
 

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 17

Price as of
Nov 24

Price change

Port

Dalian

Peru

FAQ/65%/new

10,300

10,100

-200

 

Tianjin

Peru

FAQ/67%/new

10,300

10,100

-200

 

Shanghai

Peru

FAQ/65%/new

10,300

10,100

-200

 

Huangpu

Peru

FAQ/65%/new

10,300

10,100

-200

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,800

10,600

-200

 

Wuhan

Peru

FAQ/65%/new

10,900

10,700

-200

 

Shenyang

Peru

FAQ/65%/new

10,500

10,300

-200

 

Chengdu

Peru

FAQ/65%/new

11,000

10,800

-200

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1446 (Nov 25)

 
 
Global markets

FOB prices of Peruvian prime-grade fishmeal softened to the range of US$1,550-1,570/tonnes amid slow demand.
 

Market analysis

As import costs of Peruvian fishmeal dropped further amid limited demand, Chinese traders lowered prices further while domestic demand weakened. However, feed producers were reluctant to expand stockpile with aquaculture season ended and piglet feed consumption slack.

Price quotes for prime-grade products dropped to the range of RMB11,600-11,800/tonne.
 

Market forecast

Fishmeal market will be under pressure with the demand for aqua feed and piglet feed slack. A weak Peruvian fishmeal market will help to keep a lid on import costs, but with renminbi trending lower, traders will be prudent in cutting prices.
 
 

 


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