December 2, 2016
China Fishmeal Weekly: Traders cut prices amid sluggish demand (week ended Dec 1, 2016)
An eFeedLink Exclusive
Price summary
Prices were lower.
|
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 |
10,100 |
10,000 |
-100 |
|
|
Tianjin |
Peru |
FAQ/67%/new |
10,100 |
10,000 |
-100 |
|
|
Shanghai |
Peru |
FAQ/65%/new |
10,100 |
10,000 |
-100 |
|
|
Huangpu |
Peru |
FAQ/65%/new |
10,100 |
-100 | |
|
Rail station |
Zhengzhou |
Peru |
FAQ/65%/new |
10,600 |
-100 | |
|
|
Wuhan |
Peru |
FAQ/65%/new |
10,700 |
10,600 |
-100 |
|
|
Shenyang |
Peru |
FAQ/65%/new |
10,300 |
10,200 |
-100 |
|
|
Chengdu |
Peru |
FAQ/65%/new |
10,800 |
10,700 |
-100 |
|
Prices refer to port transaction prices and are for reference only. | ||||||
Global markets
FOB prices of Peruvian prime-grade fishmeal were stable to the range of US$1,550-1,580/tonne.
As of November 27, Peru's fish catch for the current season was 351,293 tonnes, fulfilling about 18% of the quota.
Market analysis
Slack demand for aqua feed and cautious mood of hog feed producers curtailed the demand for fishmeal. Traders were compelled to lower prices despite firm import costs in efforts to stimulate demand.
Price quotes for prime-grade products were stable to lower in the range of RMB11,500-11,800/tonne.
Market forecast
Sales of fishmeal are unlikely to improve with aqua feed production shrinking to negligible level. Additionally, demand from the hog sector is set to stay slow amid low piglet population. However, even as demand is sluggish, fishmeal traders will be reluctant to cut prices as import costs rise amid a weakening renminbi.
