October 21, 2016
China Fishmeal Weekly: Import cost surge lifts prices despite lacklustre demand (week ended Oct 20, 2016)
An eFeedLink Exclusive
Price summary
Prices moved higher.
|
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 |
10,400 |
10,500 |
100 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
10,400 |
10,500 |
100 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
10,400 |
10,500 |
100 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
10,400 |
100 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
10,900 |
100 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
11,000 |
11,100 |
100 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
10,600 |
10,700 |
100 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
11,100 |
11,200 |
100 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
FOB prices of Peruvian prime-grade fishmeal stayed in the range of US$1,590-1,600/tonnes.
Pre-sales of fishmeal for the new fishing season amounted to 130,000 tonnes amid firm export orders. The new fishing season, which should commence during late October, is expected to have a quota of around 200,000 tonnes.
Market analysis
Buying interest for fishmeal was weak in China with aquaculture production dwindling and the hog market showing no signs of stabilising. Nonetheless, import costs surged lately due to the prominent depreciation of renminbi, prompting traders to lift prices to sustain profit margins.
Price quotes for prime-grade products increased to the range of RMB11,800-12,200/tonne.
Market forecast
The demand for fishmeal will fall with the aquaculture season approaching its end. However, as import costs are high amid a weakening renminbi, fishmeal traders will be prudent in lowering prices.
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