October 20, 2008
 
China Fishmeal Weekly: Prices lower on global influence (week ended Oct 19, 2008)
 

An eFeedLink Exclusive
 


Price summary
 

Prices were lower in most regions.  

 

Weekly transacted prices of imported fishmeal at major Chinese ports

Port/Inland city

Origin

Grade/Protein content/
stock type

Price as of Oct 12 (RMB/tonne)

Price as of Oct 19 (RMB/tonne)

Price change (RMB/tonne)

Dalian

Peru 

FAQ/65%/new

6,400

6,200

-200

SD/65%/new

6,700

6,600

-100

Tianjin 

Peru 

FAQ/65%/new

6,400

6,200

-200

SD/65%/new

6,700

6,700

0

Shanghai 

Peru 

FAQ/65%/new

6,250

6,100

-150

SD/65%/new

6,500

6,400

-100

SD/67%/new

7,000

7,000

0

Huangpu

Peru 

FAQ/65%/new

6,250

6,100

-150

SD/65%/new

6,500

6,400

-100

SD/67%/new

7,000

7,000

0

Shenyang

Peru

FAQ/65%/new

6,600

6,500

-100

Zhengzhou

Peru

FAQ/65%/new

6,750

6,450

-300

Wuhan

Peru

FAQ/65%/new

6,700

6,400

-300

Changsha

Peru

FAQ/65%/new

6,700

6,400

-300

Chengdu

Peru

FAQ/65%/new

6,700

6,400

-300

Prices refer to port transaction prices and are for reference only.
RMB1 = US$0.1459 (Oct 20)

 
 

Global markets

 

Fishmeal prices lower.


Concerns caused by the global financial crisis caused fishmeal prices to plunge, down US$40-50/tonne compared to the previous week. FOB China reference quotes for standard flame-dried 65 percent protein fishmeal were at US$840-850/tonne.

 


Market analysis
 

Fishmeal trade was weak in China.


Port transacted prices of new stocks of flame-dried FAQ fishmeal were at RMB6,100-6,300/tonne, down RMB100-150/tonne from the previous week. Some traders' transacted prices even fell to RMB6,000/tonne.


Demand for fishmeal also weakened amid poor hog rearing profits and reduced aquaculture rearing activities with the arrival of cooler temperatures.

 

 

Market forecast

 

Fishmeal prices are seen to remain weak on poor demand in the near-term.
 
 
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