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December 29, 2008
 
China Fishmeal Weekly: Prices fall on weak demand (week ended Dec 28, 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 21 (RMB/tonne)

Price as of Dec 28(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

6,400

-50

SD/65%/new

6,550

6,500

-50

Shanghai 

Peru 

FAQ/65%/new

6,400

6,250

-150

SD/65%/new

6,500

6,400

-100

SD/67%/new

6,900

6,900

0

Huangpu

Peru 

FAQ/65%/new

6,450

6,350

-100

SD/65%/new

6,500

6,400

-100

SD/67%/new

6,900

6,900

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$0.1462 (Dec 29)

 

Global markets

 

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

 

China imported 30,873.9 tonnes of fishmeal in November, down by 69.8 percent from October. Fishmeal traders are more cautious with procurement. A reduction in import volume will likely support stable prices amid a fall in demand.

 


Market analysis
 

China's fishmeal inventories stayed at around 160,000-170,000 tonnes.

 

Low soymeal prices as compared to fishmeal prices continued to prompt feed millers to use soymeal to substitute fishmeal whenever permissible.

 

Meanwhile, weak animal replenishment has also led to a lower demand for feed.

 

The fall in fishmeal demand led to lower prices in some regions, especially in southern China.

 

 

Market forecast

 

Fishmeal prices are seen stable in the period prior to the Spring Festival in end January.
 
 
 
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