May 19, 2017
China Fishmeal Weekly: Prices dip further on slow demand, lower import costs (week ended May 18, 2017)
An eFeedLink Exclusive
Price summary
Prices were 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 |
9,600 |
9,400 |
-200 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
9,600 |
9,400 |
-200 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
9,500 |
9,400 |
-100 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
9,500 |
-100 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
10,000 |
-100 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
10,100 |
9,900 |
-200 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
9,700 |
9,500 |
-200 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
10,200 |
10,000 |
-200 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
FOB prices of Peruvian prime-grade fishmeal were stable to lower at US1,400-1,420/tonne.
Peru's fish catch in the northern seas as of May 14 totalled 996,000 tonnes.
Market analysis
As prices of Peruvian fishmeal slid amid rising availability, the import costs dropped for Chinese traders. Meanwhile, sales of fishmeal slowed as heavy rains in the south hampered aqua production. Hence, traders continued to cut prices in a bid to stimulate demand.
Price quotes for prime-grade products were lower in the range of RMB10,600-10,800/tonne.
Market forecast
Lower import costs will help traders to negotiate prices while demand stays below expectations. Prices of fishmeal are seen soft in the near term.
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