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December 14, 2008

China Fishmeal Weekly: Prices stabilize after recent rise (week ended Dec 14, 2008)

An eFeedLink Exclusive
 

Price summary

Prices were stable in most regions. 
 

Weekly transacted prices of imported fishmeal at major Chinese ports

Port/Inland city

Origin

Protein content
(%)

Price as of Dec 7 (RMB/tonne)

Price as of Dec 14 (RMB/tonne)

Price change (RMB/tonne)

Dalian

Peru 

FAQ/65%/new

6,500

6,500

0

SD/65%/new

6,600

6,600

0

Tianjin 

Peru 

FAQ/65%/new

6,500

6,450

-50

SD/65%/new

6,600

6,600

0

Shanghai 

Peru 

FAQ/65%/new

6,500

6,500

0

SD/65%/new

6,600

6,600

0

SD/67%/new

7,000

7,000

0

Huangpu

Peru 

FAQ/65%/new

6,600

6,550

-50

SD/65%/new

6,600

6,600

0

SD/67%/new

7,000

7,000

0

Shenyang

Peru

FAQ/65%/new

6,600

6,600

0

Zhengzhou

Peru

FAQ/65%/new

6,700

6,700

0

Wuhan

Peru

FAQ/65%/new

6,700

6,700

0

Changsha

Peru

FAQ/65%/new

6,700

6,700

0

Chengdu

Peru

FAQ/65%/new

6,800

6,800

0

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1455 (Dec 15)
 

Global markets

Prices of Peruvian fishmeal were slightly lower during the week. However, more fall will be limited as fishmeal supplies will soon be tightened with the end of the anchovy catching season on December 13.
 

Market analysis

China's fishmeal inventories dropped to about 170,000 tonnes.

Trade activities were lower as most feed millers had already purchased sufficient quantities earlier. At the same time, lower soymeal prices also prompted feed millers to substitute fishmeal with soymeal whenever permissible.

Cheaper current import prices during the week also affected the demand for the relatively higher priced fishmeal imported previously. Many traders thus lowered their asking prices to take profits. 
 

Market forecast

Fishmeal prices are seen to weaken in the coming week.
 
 

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