March 26, 2018
China Fishmeal Weekly: Mounting inventory pressure softens prices (week ended Mar 23, 2017)
An eFeedLink Exclusive
Price summary
Prices moved lower.
|
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 |
12700 |
12500 |
-200 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
12900 |
12700 |
-200 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
12700 |
12500 |
-200 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
12700 |
-200 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
13500 |
-200 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
12700 |
12500 |
-200 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
12700 |
12500 |
-200 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
12700 |
12500 |
-200 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
CNF prices of Peruvian prime-grade fishmeal were mainly around US$1,750/tonne while demand slowed.
In Peruvian southern seas, total fish catch were at 88,468 tonnes as of March 18, fulfilling 16.5% of the 535,000 tonnes quota. The fishing season will end on April 6.
Market analysis
Port inventories of fishmeal climbed 5% to 98,700 tonnes, exerting pressure to traders. In a bid to clear stocks, traders cut prices to entice buyers who were not keen to build inventories.
Price quotes for Peruvian prime-grade products were in the range of RMB13,600-13,800/tonne.
Market forecast
Fishmeal prices are likely to slide further as traders face mounting inventory pressure. Nonetheless, with supplies from Peru tight due to low fish catch, and aqua feed production set to expand, price falls are expected to be limited.
