November 25, 2016
China Fishmeal Weekly: Market weakens further on sliding costs, lacklustre demand (week ended Nov 24, 2016)
An eFeedLink Exclusive
Price summary
Prices dipped further.
|
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 |
10,300 |
10,100 |
-200 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
10,300 |
10,100 |
-200 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
10,300 |
10,100 |
-200 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
10,300 |
-200 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
10,800 |
-200 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
10,900 |
10,700 |
-200 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
10,500 |
10,300 |
-200 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
11,000 |
10,800 |
-200 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
FOB prices of Peruvian prime-grade fishmeal softened to the range of US$1,550-1,570/tonnes amid slow demand.
Market analysis
As import costs of Peruvian fishmeal dropped further amid limited demand, Chinese traders lowered prices further while domestic demand weakened. However, feed producers were reluctant to expand stockpile with aquaculture season ended and piglet feed consumption slack.
Price quotes for prime-grade products dropped to the range of RMB11,600-11,800/tonne.
Market forecast
Fishmeal market will be under pressure with the demand for aqua feed and piglet feed slack. A weak Peruvian fishmeal market will help to keep a lid on import costs, but with renminbi trending lower, traders will be prudent in cutting prices.
