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MARKET

December 2, 2019
 
China Fishmeal Weekly: Dwindling demand holds prices flat despite soaring costs (week ended Nov 29, 2019)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable.
 

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 22

Price as of
Nov 29

Price change

Port

Dalian

Peru

FAQ/65%/new

9,100

9,100

0

 

Tianjin

Peru

FAQ/67%/new

9,200

9,200

0

 

Shanghai

Peru

FAQ/65%/new

9,100

9,100

0

 

Huangpu

Peru

FAQ/65%/new

9,100

9,100

0

Rail station

Zhengzhou

Peru

FAQ/65%/new

-

-

-

 

Wuhan

Peru

FAQ/65%/new

-

-

-

 

Shenyang

Peru

FAQ/65%/new

-

-

-

 

Chengdu

Peru

FAQ/65%/new

-

-

-

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1422 (Dec 2)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal increased US$50/tonne to US$1,400/tonne as turbulent waves and the strikes of fishermen disrupted the fishing season.
 
As of November 26, the fish catch in the northern-central seas (season period: Nov 16-Dec 31) totalled 568,599 tonnes, which was slightly over 20% of the 2.79 million tonnes quota.
 
 
Market analysis
 
Port inventories of fishmeal expanded slightly to 186,100 tonnes amid dwindling demand and more arrivals of imports. Despite the rising fishing costs of Peruvian fishmeal, traders had difficulties lifting prices as the demand for fishmeal dropped with the production of aqua feed shrinking prominently.
 
Price quotes for Peruvian prime-grade products were stable to lower at RMB9,900-10,200/tonne.
 
 
Market forecast
 
Traders will be reluctant to negotiate prices with import costs climbing. However, as the demand for fishmeal continues to decrease with the aquaculture season ending, the market will be under pressure.
 

 

 


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