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January 29, 2020


China Fishmeal Weekly: Market stays strong amid supply concerns (week ended Jan 24, 2020)
 

An eFeedLink Exclusive

 


Price summary


Prices stayed stable.

 

Weekly transacted prices of imported fishmeal at major Chinese ports (RMB/tonne)

Price type

Port/Inland city

Origin

Grade/
Protein content/
stock type

Price as of
Jan 17

Price as of
Jan 24

Price change

Port

Dalian

Peru

FAQ/65%/new

12300

10400

1900

Tianjin

Peru

FAQ/67%/new

12300

10400

1900

Shanghai

Peru

FAQ/65%/new

12300

10400

1900

Huangpu

Peru

FAQ/65%/new

12300

10400

1900

Rail station

Zhengzhou

Peru

FAQ/65%/new

-

-

-

Wuhan

Peru

FAQ/65%/new

-

-

-

Shenyang

Peru

FAQ/65%/new

-

-

-

Chengdu

Peru

FAQ/65%/new

-

-

-

Prices refer to port transaction prices and are for reference only.
RMB1=US$0.1441 (Jan 28)

 


Global markets


CNF prices of Peruvian prime-grade fishmeal remained at US$1,800/tonne while producers stood firm.


Peru's anchovy fishing, which commenced of November 6, 2019, ended suddenly on January 15. During this period, the fish catch in the northern-central seas totalled 1,004,033 tonnes, which was a mere 36% of the 2.79 million tonnes quota.

 


Market analysis


Trade was light in the fishmeal market as most participants have halted operation. Port inventories dwindled to 133,300, which was 1.6% lower compared with the previous week. Despite limited sales, fishmeal prices remained firm as supplies are poised to be low while Peru's fish catch in the northern-central seas was drastically below the quota.


Price quotes for Peruvian prime-grade products rose to RMB13,300-13,500/tonne.

 


Market forecast


Fishmeal market is set to stay strong with supplies from Peru inadequate. However, feed producers will hold back purchases after the Chinese New Year holidays as the coronavirus outbreak originating from Wuhan, Hubei province threatens to cause severe damage to China's economy.

 

 


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