November 4, 2011
 
China Fishmeal Weekly: High Peruvian fishing quota weakens market sentiment (week ended Nov 3, 2011)
 
An eFeedLink Exclusive

 
Price summary
 
Prices were flat.
 

Weekly transacted prices of imported fishmeal at major Chinese ports (RMB/tonne)

Price type

Port/Inland city

Origin

Grade/
Protein content/
stock type

Price as of Oct 27

Price as of Nov 3

Price change

Port

Dalian

Peru

FAQ/65%/new

8,600

8,600

0

Tianjin

Peru

FAQ/67%/new

8,600

8,600

0

Shanghai

Peru

FAQ/65%/new

8,500

8,500

0

Huangpu

Peru

FAQ/65%/new

8,500

8,500

0

Rail station

Zhengzhou

Peru

FAQ/65%/new

8,800

8,800

0

Wuhan

Peru

FAQ/65%/new

8,800

8,800

0

Shenyang

Peru

FAQ/65%/new

8,700

8,700

0

Chengdu

Peru

FAQ/65%/new

8,900

8,900

0

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1574 (Nov 4)

 
 
Global markets
 
According to latest announcement by Peru's Ministry of Fisheries, its new fishing season will officially start on November 23 and end on January 31 next year, with a catch quota of 2.5 million tonnes, sharply higher than the industry estimate of two million tonnes.
 
Over the week, FOB prices of Peru's FAQ fishmeal edged higher at US$1,300/tonne.
 
 
Market analysis
 
In China, larger-than-expected Peruvian fishing quota weighed on market sentiment. However, given the uncertainty of Peru's fishing conditions and the government's strict policy adherence, most fishmeal traders remained confident and chose to stand firm on prices.
 
 
Market forecast
 
Fishmeal prices may come under pressure in the short term from weakened market expectations in and outside China. 
 
 
 

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