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December 22, 2008
 
China Fishmeal Weekly: Weaker demand leads to lower prices (week ended Dec 21, 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

Grade/protein content/
stock type

Price as of Dec 14 (RMB/tonne)

Price as of Dec 21 (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

6,450

6,450

0

SD/65%/new

6,600

6,550

-50

Shanghai 

Peru 

FAQ/65%/new

6,500

6,400

-100

SD/65%/new

6,600

6,500

-100

SD/67%/new

7,000

6,900

-100

Huangpu

Peru 

FAQ/65%/new

6,550

6,450

-100

SD/65%/new

6,600

6,500

-100

SD/67%/new

7,000

6,900

-100

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$0.1461 (Dec 22)

 
 

Global markets

 

Prices of 65% flamed-dried Peruvian fishmeal were maintained at around US$850/tonne on strong demand.

 

Peruvian fishmeal trade will be closed for the Christmas holidays.

 
 

Market analysis
 

China's fishmeal inventories stayed at around 170,000 tonnes. Expectations of cheaper imports in January placed pressure on traders and prompted them to sell their stocks at lower prices to take whatever profit there is now.

 

In addition, lower meat consumption amid the slowdown in economic activity in China has affected livestock rearing interest. This caused fishmeal demand for feed to fall.

 

Lower soymeal prices for the past few weeks also prompted feed millers to substitute fishmeal with soymeal whenever permissible.

 

 

Market forecast

 

Fishmeal prices are expected to fall further in the near-term.
 
 
 
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