May 4, 2021
China Fishmeal: Soaring import costs lift prices (week ended May 3, 2021)
CNF prices of Peruvian prime-grade fishmeal surged to US$1,700/tonne. Pre-sales price quotes increased to US$1,680/tonne.
Peru's fishing in the central and northern seas, which commenced on April 23, totalled 172,008 tonnes as of April 28. This was 6.9% of the 2.51 million tonnes quota for the season.
With the costs of Peruvian fishmeal products soaring, traders lifted prices to sustain profitability.
Price quotes for Peruvian prime-grade products rebounded to the range of RMB11,300-11,400/tonne.
High import costs of Peruvian products will hold up fishmeal prices in the coming weeks.
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