August 19, 2016
China Fishmeal Soft demand drags down prices (week ended Aug 18, 2016)
An eFeedLink Exclusive
Price summary
Prices moved 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 |
12,100 |
12,000 |
-100 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
12,100 |
12,000 |
-100 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
12,100 |
11,800 |
-300 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
12,100 |
-300 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
12,500 |
-200 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
12,700 |
12,400 |
-300 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
12,300 |
12,200 |
-100 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
12,800 |
12,500 |
-300 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
FOB prices of Peruvian CNF fishmeal slid to US$1,850-1,880/tonnes. Despite limited stocks, sluggish demand for fishmeal compelled traders to lower prices.
Market analysis
Feed millers continued to withhold buying as sales of aqua feed slowed of late while aquaculture production stagnated after reaching annual peak levels. As import costs of Peruvian fishmeal softened, traders were more willing to cut prices in efforts to move sales.
Price quotes for prime-grade products dropped to the range of RMB13,300-13,500/tonne.
Market forecast
Aqua feed sales are unlikely to increase in the coming period as aqua farms are reluctant to stock inventories in anticipation of dwindling production due to colder climates in September. This will put a lid on the prices of fishmeal despite tight availability from Peru.
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