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November 29, 2016

China Whey Weekly: Market stays strong despite lacklustre demand (week ended Nov 28, 2016)

An eFeedLink Exclusive
 

Price summary

Prices moved higher.
 

Weekly port transaction prices of whey in China

Specification

Port

Price as of Nov 21
(RMB/tonne)

Price as of Nov 28
(RMB/tonne)

Price Changes
(RMB/tonne)

Low protein

Shanghai

7,200

7,400

200

Tianjin

7,200

7,400

200

Chengdu

7,500

7,600

100

Guangzhou

7,200

7,400

200

Dalian

7,200

7,400

200

Beijing

7,500

7,600

100

Xiamen

7,200

7,400

200

High protein

Shanghai

8,000

8,000

0

Tianjin

8,000

8,000

0

Chengdu

8,000

8,300

0

Guangzhou

7,700

8,000

0

Dalian

8,000

8,000

0

Beijing

8,000

8,300

0

Xiamen

-

-

-

Prices refer to port transaction prices for bulk purchases in Dalian, Shanghai, Guangzhou, etc, and are for reference only.
RMB1=US$0.1447 (Nov 29)

 
 
Suppliers' quotes

In Europe, whey prices were stable to higher in the range of US770-790/tonne.
 
Price quotes of US feed-grade whey remained firm in the range of US$529-750/tonne.
 

Market analysis

Even as prices of whey stayed stable in the US, import costs increased as renminbi continued to depreciate against the dollar. Hence, whey traders lifted prices further despite slow trade with piglet feed consumption sluggish.
 

Market forecast

Whey market is poised to remain firm with import costs likely to rise further as renminbi stays weak. Moreover, with demand for whey strong in the US due to hog inventories breaking records and shipments reaching China longer than usual, any delay in deliveries to China might perk up prices.
 

Remarks: Prices refer to port transaction prices of low-protein whey and are for reference only.

 

Remarks: Prices refer to CIF China price quotes (US-Dollar) of low-protein whey and are for reference only.

 


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