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December 30, 2016

China Fishmeal Weekly: Traders stand firm amid high import costs (week ended Dec 29, 2016)
 
An eFeedLink Exclusive
 

Price summary

Prices remained unchanged.
 

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 22

Price as of
Dec 29

Price change

Port

Dalian

Peru

FAQ/65%/new

10,400

10,400

0

 

Tianjin

Peru

FAQ/67%/new

10,400

10,400

0

 

Shanghai

Peru

FAQ/65%/new

10,400

10,400

0

 

Huangpu

Peru

FAQ/65%/new

10,400

10,400

0

Rail station

Zhengzhou

Peru

FAQ/65%/new

10,900

10,900

0

 

Wuhan

Peru

FAQ/65%/new

11,000

11,000

0

 

Shenyang

Peru

FAQ/65%/new

10,600

10,600

0

 

Chengdu

Peru

FAQ/65%/new

11,100

11,100

0

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1438 (Dec 30)

 
 
Global markets

FOB prices of Peruvian prime-grade fishmeal stayed at US$1,600/tonne.

Peru's fish catch as of December 25 totalled 1.14 million tonnes, equivalent to 60% of the quota.
 
 
Market analysis

Demand for fishmeal was slow as aqua feed production diminished further. However, port inventories of fishmeal slid to 79,000 tonnes while import costs remained high, prompting traders to stand firm on prices.

Price quotes for prime-grade products were in the range of RMB12,000-12,100/tonne.
 

Market forecast

Fishmeal market will be under pressure with aqua feed demand falling to negligible levels. Nonetheless, traders will be reluctant to lower prices while import costs of Peruvian fishmeal show no signs of weakening.
 
 
 


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