July 29, 2016
China Fishmeal Weekly: Chinese fishmeal traders stand firm amid low fish catch in Peru (week ended Jul 28, 2016)
An eFeedLink Exclusive
Price summary
Prices were unchanged.
|
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 |
12,000 |
12,000 |
0 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
12,000 |
12,000 |
0 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
12,000 |
12,000 |
0 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
12,000 |
0 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
12,400 |
0 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
12,600 |
12,600 |
0 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
12,200 |
12,200 |
0 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
12,700 |
12,700 |
0 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
FOB prices of Peruvian CNF fishmeal were firm at US$1,850/tonnes.
Peru's fish catch in the central-northern seas totalled 767,187 tonnes as of July 20, prominently lower than expected.
Market analysis
Demand for fishmeal was slow as feed millers has sufficient stocks while aqua feed consumption was limited due to floods and heavy rains in several regions. Nevertheless, even while port inventories expanded, traders held prices firm as Peru seemed unlikely to achieve its target for the fishing season.
Price quotes for prime-grade products strengthened to the range of RMB13,300-13,500/tonne.
Market forecast
Demand for fishmeal is expected to slow towards mid-August as the weather temperatures begin to fall, signalling the downturn of the aquaculture production. However, with the fishing volumes of the new season in Peru disappointing, traders will stand firm in the near term in anticipation of inadequately supplies.
