February 24, 2017
China Fishmeal Weekly: Inventory rises amid slack demand (week ended Feb 23, 2017)
An eFeedLink Exclusive
Price summary
Prices were unchanged.
|
Weekly transacted prices of imported fishmeal at major Chinese ports (RMB/tonne) | ||||||
|
Price type |
Port/Inland city |
Origin |
Grade/ |
Price as of |
Price as of |
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 |
10,200 |
0 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
10,200 |
0 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
10,700 |
0 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
10,800 |
10,800 |
0 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
10,400 |
10,400 |
0 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
10,900 |
10,900 |
0 |
|
All prices are representative and are for reference only. |
||||||
Global markets
FOB prices of Peruvian prime-grade fishmeal slid to US$1,530/tonne.
As of February 17, Peru's fish catch in the southern was around 50,000 tonnes.
Market analysis
As sales of piglet feed were low due to diminished inventories while aqua feed production fell to annual lows, feed producers were reluctant to stockpile fishmeal. Nonetheless fishmeal traders held prices firm after recent week's price cuts.
Port inventories of fishmeal in China increased to 72,000 tonnes amid slow demand.
Price quotes for prime-grade products were stable to lower in the range of RMB11,500-11,600/tonne.
Market forecast
Demand for fishmeal is unlikely to improve in the near term as feed output stays low. Fishmeal traders will be under pressure to negotiate prices as port inventories continue to mount.
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