November 8, 2003

China's Fishmeal Update: Marginal Slide in China's Fishmeal Prices Due to Falling Prices of Soymeal (November 7, 2003)

An eFeedLink Exclusive Report

Fishmeal market in China this week was basically stable. However, as a consequence of the price drop in soymeal, the quotations and actual transacted prices of fishmeal at Chinese ports fell correspondingly.

At present, quotations for FAQ imported fishmeal (64% protein) at Dalian port and Tianjin ports averaged at around RMB5800/ton, while actual transacted prices hovered at around RMB5700-5750/ton.

Meanwhile, at Shanghai port, FAQ imported fishmeal (64% protein) is at RMB5800/ton, while actual transacted prices generally averaged between RMB5700-5750/ton -- few transactions have breached the level of RMB5700/ton.

At Huangpu port, FAQ imported fishmeal (above 64% protein) was quoted at around RMB5800/ton, and transacted between RMB5700-5750/ton.        

In short, recent fishmeal transactions in China were relatively light, and its transacted volume was seen shrinking. Most departure stocks this week from Chinese ports were for those transactions made when prices were lower. At present, fishmeal stockpiles at Chinese ports stood at around 85,000 tons, but are seen would decrease in the coming weeks.