November 13, 2017
China Fishmeal Weekly: Concerns over Peru’s new fishing season lift China fishmeal prices (week ended Nov 10, 2017)
An eFeedLink Exclusive
Price summary
Prices rose prominently.
|
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 |
9,800 |
10,000 |
200 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
9,700 |
10,300 |
600 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
9,700 |
10,000 |
300 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
9,600 |
400 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
10,200 |
300 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
9,800 |
10,000 |
200 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
9,800 |
10,000 |
200 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
9,700 |
10,000 |
300 |
| Prices refer to port transaction prices and are for reference only. RMB1=US$0.1505 (Nov 13) | ||||||
Global markets
CNF prices of Peruvian prime-grade fishmeal rose to US$1,540/tonne as producers stood firm with presales approaching 200,000 tonnes.
Meanwhile, market participants have lowered the quota projection for the upcoming fishing season to around 1.8 million tonnes.
Market analysis
Traders lifted price quotes of fishmeal as supplies tightened while the costs of Peruvian fishmeal surged further amid concerns of poor fish catch in the upcoming season. Hence, even as the demand for fishmeal was flat due to dwindling aqua feed production, prices of fishmeal rose by 3.2% over the week.
Price quotes for prime-grade products increased to the range of RMB10,900-11,300/tonne.
Market forecast
With the costs of Peruvian fishmeal expected to climb further, Chinese fishmeal market is set to remain strong. Feed millers who have held inventories low will increase stock, hence lending support to the price hikes. However, with aqua feed output negligible, buyers will remain prudent.
