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September 23, 2003

 

 

Quotations for Fishmeal at Shanghai Port Move Up Early Week of Sept 22

 

An eFeedLink Exclusive Report

 

Quotations for fishmeal at Shanghai port surge unexpectedly this Monday. Current quotations for fishmeal with above 64% protein range at RMB5250/ton, registering an increase of RMB150/ton versus last week's. Meanwhile, prices for FAQ fishmeal with protein of 65% rise to RMB5300/ton.

 

According to market participants, the price hikes on Monday is closely connected to the "price alliance" by the six importers which have continued since the past weeks. Current actual transaction remains unclear as many feed millers are not ready to accept the sudden price hikes and thereby remain conservative in procurement activity.
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