January 20, 2020
 
China Fishmeal Weekly: Abrupt Peru fishing halt pumps up prices (week ended Jan 17, 2020)
                             
An eFeedLink Exclusive
 

Price summary
 
Prices rose prominently.
 

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
Jan 10

Price as of
Jan 17

Price change

Port

Dalian

Peru

FAQ/65%/new

10,400

12,300

1,900

Tianjin

Peru

FAQ/67%/new

10,400

12,300

1,900

Shanghai

Peru

FAQ/65%/new

10,400

12,300

1,900

Huangpu

Peru

FAQ/65%/new

10,400

12,300

1,900

Rail station

Zhengzhou

Peru

FAQ/65%/new

-

-

-

Wuhan

Peru

FAQ/65%/new

-

-

-

Shenyang

Peru

FAQ/65%/new

-

-

-

Chengdu

Peru

FAQ/65%/new

-

-

-

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1457 (Jan 20)

 
 
Global markets
 
CNF prices of Peruvian prime-grade fishmeal surged US$100/tonne to US$1,800/tonne amid concerns of tight availability.
 
Peru's anchovy fishing, which commenced of November 6, 2019, ended suddenly on January 15. During this period, the fish catch in the northern-central seas totalled 1,004,033 tonnes, which was a mere 36% of the 2.79 million tonnes quota.
 
 
Market analysis
 
As the import costs of Peruvian fishmeal increased tremendously, traders lifted prices accordingly. Buyers increased stockpiles to secure supplies, shrinking the port inventory of fishmeal to 135,500 tonnes, which was 14% lower compared with the previous week.
 
Price quotes for Peruvian prime-grade products increased to RMB12,000-12,300/tonne.
 

Market forecast
 
Buyers will be eager to stock fishmeal inventories as Peru's low fish catch and abrupt fishing halt will result in a supply crunch. With port inventories of fishmeal diminishing rapidly, prices are set to rise substantially in the coming period.
 

 

 


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