September 14, 2020
China Fishmeal: Substantial price falls stimulate buying (week ended Sep 11, 2020)
CNF prices of CNF prices of Peruvian prime-grade fishmeal plunged to US$1,500/tonne as buyers withheld buying. Pre-sales FOB prices climbed to US$1,480/tonne.
As the import costs of Peruvian fishmeal dropped prominently, Chinese traders readily slashed prices in attempts to move sales. Demand improved substantially due to the price dive. Port inventories diminished to 81,700 tonnes with sales increased.
For FAQ fishmeal products, price quotes tumbled to the range of RMB9,400-9,600/tonne.
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