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December 8, 2016

China Whey Weekly: High import costs, rising demand perk up China whey prices (week ended Dec 5, 2016)

An eFeedLink Exclusive
 

Price summary

Prices increased further. 
 

Weekly port transaction prices of whey in China

Specification

Port

Price as of Nov 28
(RMB/tonne)

Price as of Dec 5
(RMB/tonne)

Price Changes
(RMB/tonne)

Low protein

Shanghai

7,400

7,600

200

Tianjin

7,400

7,600

200

Chengdu

7,600

7,900

300

Guangzhou

7,400

7,700

300

Dalian

7,400

7,600

200

Beijing

7,600

7,800

200

Xiamen

7,400

7,600

200

High protein

Shanghai

8,000

8,200

200

Tianjin

8,000

8,200

200

Chengdu

8,000

8,200

200

Guangzhou

8,000

8,200

200

Dalian

8,000

8,200

200

Beijing

8,000

8,300

300

Xiamen

-

-

-

Prices refer to port transaction prices for bulk purchases in Dalian, Shanghai, Guangzhou, etc, and are for reference only.
RMB1=US$0.1454 (Dec 7)

 
 
Suppliers' quotes

In Europe, whey prices surged to the range of US790-800/tonne.

Price quotes of US feed-grade whey stayed in the range of US$529-750/tonne.
 

Market analysis

Despite ample supplies in the US, strong feed demand amid record high inventories held prices of whey firm. Meanwhile, prices in Europe increased on tight availability.

With renminbi staying weak, import costs increased as whey markets in the US and Europe stayed strong. Demand improved of late as feed millers accumulated stocks fearing that prices might surge further.
 

Market forecast

Hog feed demand is expected to rise gradually as animal producers prepare for the pre-Chinese New Year market in January. This, together with high import costs due to the depreciation of renminbi, will lend support to whey prices in China.
 

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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