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December 8, 2008
 
China Fishmeal Weekly: Prices marginally higher amid weaken demand (week ended Dec 7, 2008)

An eFeedLink Exclusive
 
 

Price summary
 

Prices were 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 30(RMB/tonne)

Price as of Dec 7(RMB/tonne)

Price change (RMB/tonne)

Dalian

Peru 

FAQ/65%/new

6,400

6,500

100

SD/65%/new

6,500

6,600

100

Tianjin 

Peru 

FAQ/65%/new

6,400

6,500

100

SD/65%/new

6,500

6,600

100

Shanghai 

Peru 

FAQ/65%/new

6,400

6,500

100

SD/65%/new

6,500

6,600

100

SD/67%/new

6,900

7,000

100

Huangpu

Peru 

FAQ/65%/new

6,400

6,600

200

SD/65%/new

6,400

6,600

200

SD/67%/new

6,900

7,000

100

Shenyang

Peru

FAQ/65%/new

6,500

6,600

100

Zhengzhou

Peru

FAQ/65%/new

6,600

6,700

100

Wuhan

Peru

FAQ/65%/new

6,600

6,700

100

Changsha

Peru

FAQ/65%/new

6,600

6,700

100

Chengdu

Peru

FAQ/65%/new

6,600

6,800

200

Prices refer to port transaction prices and are for reference only.
RMB1 = US$0.1454 (Dec 8)

 
 

Global markets

 

Prices of Peruvian fishmeal were higher during the week.

 

CNF reference quotes for Peruvian fishmeal increased by about US$20/tonne to settle at US$870-880/tonne.

 

In addition to higher Peruvian fishmeal prices, the recent strength  of the Chinese Renminbi against the US Dollar will further increase China's import costs of Peruvian fishmeal.

 
 

Market analysis
 

China's fishmeal inventories fell to around 174,000 tonnes.

 

Higher pork prices during the week in review supported an increase in fishmeal demand. However, lower soymeal prices in some regions and weaker demand for poultry feed and aqua feed limited the overall increase in fishmeal demand.

 

 

Market forecast

 

Fishmeal prices are expected to rise marginally in the coming week, but demand will unlikely to pick up substantially.
 
 
 

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