December 14, 2008
China Fishmeal Weekly: Prices stabilize after recent rise (week ended Dec 14, 2008)
An eFeedLink Exclusive
Price summary
Prices were stable in most regions.
|
Weekly transacted prices of imported fishmeal at major Chinese ports | |||||
|
Port/Inland city |
Origin |
Protein content
(%) |
Price as of Dec 7 (RMB/tonne) |
Price as of Dec 14 (RMB/tonne) |
Price change (RMB/tonne) |
|
Dalian |
Peru |
FAQ/65%/new |
6,500 |
6,500 |
0 |
|
SD/65%/new |
6,600 |
6,600 |
0 | ||
|
Tianjin |
Peru |
FAQ/65%/new |
6,500 |
6,450 |
-50 |
|
SD/65%/new |
6,600 |
6,600 |
0 | ||
|
Shanghai |
Peru |
FAQ/65%/new |
6,500 |
6,500 |
0 |
|
SD/65%/new |
6,600 |
6,600 |
0 | ||
|
SD/67%/new |
7,000 |
7,000 |
0 | ||
|
Huangpu |
Peru |
FAQ/65%/new |
6,600 |
6,550 |
-50 |
|
SD/65%/new |
6,600 |
6,600 |
0 | ||
|
SD/67%/new |
7,000 |
7,000 |
0 | ||
|
Shenyang |
Peru |
FAQ/65%/new |
6,600 |
0 | |
|
Zhengzhou |
Peru |
FAQ/65%/new |
6,700 |
0 | |
|
Wuhan |
Peru |
FAQ/65%/new |
6,700 |
6,700 |
0 |
|
Changsha |
Peru |
FAQ/65%/new |
6,700 |
6,700 |
0 |
|
Chengdu |
Peru |
FAQ/65%/new |
6,800 |
6,800 |
0 |
| Prices refer to port transaction prices and are for reference only. RMB1=US$0.1455 (Dec 15) | |||||
Global markets
Prices of Peruvian fishmeal were slightly lower during the week. However, more fall will be limited as fishmeal supplies will soon be tightened with the end of the anchovy catching season on December 13.
Market analysis
China's fishmeal inventories dropped to about 170,000 tonnes.
Trade activities were lower as most feed millers had already purchased sufficient quantities earlier. At the same time, lower soymeal prices also prompted feed millers to substitute fishmeal with soymeal whenever permissible.
Cheaper current import prices during the week also affected the demand for the relatively higher priced fishmeal imported previously. Many traders thus lowered their asking prices to take profits.
Market forecast
Fishmeal prices are seen to weaken in the coming week.
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