July 22, 2016
China Fishmeal Weekly: Subdued demand holds down prices (week ended Jul 21, 2016)
An eFeedLink Exclusive
Price summary
Prices slid further.
|
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 |
12,100 |
12,000 |
-100 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
12,100 |
12,000 |
-100 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
12,100 |
12,000 |
-100 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
12,100 |
-100 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
12,500 |
-100 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
12,700 |
12,600 |
-100 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
12,300 |
12,200 |
-100 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
12,800 |
12,700 |
-100 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
FOB prices of Peruvian CNF fishmeal strengthened to the range of US$1,830-1,850/tonnes amid concerns over slow fishing progress.
Peru's fish catch for the central-north region increased to 680,453 tonnes by July 13, up by only 170,000 tonnes.
Market analysis
Trade was light in the fishmeal market as feed millers limited output while sales were weaker than expected due to disruption in aqua farming in several regions. Hence, even as prices of Peruvian fishmeal showed signs of firming up, Chinese traders negotiated prices in efforts to stimulate sales.
Price quotes for prime-grade products were in the range of RMB13,200-13,300/tonne.
Market forecast
Fishmeal prices are seen stable to lower in the coming period. Aqua feed producers will gradually cut down production in anticipation of dwindling aqua feed demand entering August due to falling weather temperatures. However, with import costs on the rise, traders will be more cautious in cutting prices.
