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China

December 18, 2017

China Fishmeal Weekly: Subdued demand puts a lid on prices (week ended Dec 15, 2017)
                             
An eFeedLink Exclusive
 
 
Price summary
 
Prices remained firm.
 

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
Dec 8

Price as of
Dce 15

Price change

Port

Dalian

Peru

FAQ/65%/new

12,700

12,700

0

 

Tianjin

Peru

FAQ/67%/new

12,900

12,900

0

 

Shanghai

Peru

FAQ/65%/new

12,700

12,700

0

 

Huangpu

Peru

FAQ/65%/new

12,500

12,500

0

Rail station

Zhengzhou

Peru

FAQ/65%/new

13,500

13,500

0

 

Wuhan

Peru

FAQ/65%/new

12,700

12,700

0

 

Shenyang

Peru

FAQ/65%/new

12,700

12,700

0

 

Chengdu

Peru

FAQ/65%/new

12,700

12,700

0

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1515 (Dec 18)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal increased to US$1,900/tonne as Peru halted fishing to allow the fish population to recover.

 
Market analysis
 
China fishmeal prices stabilised after the recent round of rally. Although Peruvian fishmeal prices surged over the week, Chinese traders held prices stable while feed millers limited buying with aqua feed production dwindling.
 
Port inventories of fishmeal in China slid 10% to 109,000 tonnes.
 
Price quotes for prime-grade products stayed in the range of RMB13,500-14,000/tonne.
 

Market forecast
 
Tight availability of Peruvian fishmeal products will support prices to stay firm. However, feed millers will limit the inclusion rates of fishmeal as the product is expensive. This, coupled with negligible aqua feed production, will put a lid on fishmeal prices.
 

 

 

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