April 7, 2020
 
China Fishmeal Weekly: Market stays firm amid dwindling availability (week ended Apr 3, 2020)
                             
An eFeedLink Exclusive
 

Price summary
 
Prices were stable.
 

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
Mar 27

Price as of
Apr 3

Price change

Port

Dalian

Peru

FAQ/65%/new

12,000

12,000

0

Tianjin

Peru

FAQ/67%/new

12,000

12,100

100

Shanghai

Peru

FAQ/65%/new

12,000

12,000

0

Huangpu

Peru

FAQ/65%/new

12,000

12,000

0

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$0.1413 (Apr 7)

 

Global markets
 
CNF prices of Peruvian prime-grade fishmeal were lower at US$1,750/tonne amid light trade.
 
The new fishing season is expected to be postponed due to the Wuhan virus pandemic.
 

Market analysis
 
Port inventories of fishmeal decreased significantly to 133,700 tonnes as imports were delayed while aqua feed producers increased inventories. Traders were adamant to stand firm on prices with spot supplies diminished and future shipments from Peru uncertain.
 
Price quotes for Peruvian prime-grade products remained in the range of RMB13,200-13,500/tonne.
 

Market forecast
 
Dwindling availability of fishmeal, together with Peru's likely delay in fishing season and a weak renminbi, will prompt traders to hold up prices. However, with the economic outlook of China bleak, aqua feed producers will tread prudently and limit stockpiles of fishmeal.
 

 

 


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