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December 16, 2016

China Fishmeal Weekly: Prices strengthen despite weaker buying interest  (week ended Dec 15, 2016)
                                  
An eFeedLink Exclusive
 
 
Price summary
 
Prices were stable to higher.
 

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
Dec 15

Price change

Port

Dalian

Peru

FAQ/65%/new

10,200

10,200

0

 

Tianjin

Peru

FAQ/67%/new

10,200

10,200

0

 

Shanghai

Peru

FAQ/65%/new

10,200

10,400

200

 

Huangpu

Peru

FAQ/65%/new

10,200

10,400

200

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,700

10,900

200

 

Wuhan

Peru

FAQ/65%/new

10,800

11,000

200

 

Shenyang

Peru

FAQ/65%/new

10,400

10,400

0

 

Chengdu

Peru

FAQ/65%/new

10,900

11,100

200

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1439 (Dec 16)

 
 
Global markets
 
FOB prices of Peruvian prime-grade fishmeal remained stable at US$1,600/tonne as the fish catch for the current season fell below expectations.
          
                                   
Market analysis
 
Buying interest weakened over the week as feed millers who have stocked some supplies withheld purchases. However, as supplies tightened while the import costs climbed higher with renminbi remaining weak, traders continued to lift the prices of fishmeal.
 
Price quotes for prime-grade products increased to the range of RMB11,800-12,000/tonne.
 
 
Market forecast
 
The upward scope of fishmeal market will be limited with demand from the aquaculture sector dwindling. Nonetheless, prices should stay firm as the costs of the product are expected to move higher while renminbi shows no signs of appreciating.
 

 


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