November 4, 2016
China Fishmeal Weekly: Traders fail to lift prices despite higher costs (week ended Nov 3, 2016)
An eFeedLink Exclusive
Price summary
Prices were unchanged.
|
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 |
10,500 |
10,500 |
0 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
10,500 |
10,500 |
0 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
10,500 |
10,500 |
0 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
10,500 |
0 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
11,000 |
0 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
11,100 |
11,100 |
0 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
10,700 |
10,700 |
0 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
11,200 |
11,200 |
0 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
FOB prices of Peruvian prime-grade fishmeal strengthened to the range of US$1,600-1,630/tonnes as market participants anticipated a low fishing quota for the upcoming season.
Market analysis
Despite climbing prices of Peruvian products and a weak renminbi, which pushed up the import costs, China's fishmeal market remained soft amid slack demand. Aqua feed producers were reluctant to stock inventories while the sales of aqua feed dwindled prominently lately due to plunging aquaculture production.
Price quotes for prime-grade products stayed in the range of RMB12,000-12,200/tonne.
Market forecast
Traders will be tempted to lift prices with the costs of fishmeal imports rising. However, with aqua feed production diminishing and piglet population flat, sluggish sales of fishmeal will put a lid on the prices.
