April 5, 2021
China Fishmeal: Market stays weak amid light trade (week ended Apr 5, 2021)
CNF prices of Peruvian prime-grade fishmeal remained at US$1,650/tonne amid light trade. Pre-sales of the upcoming season's fishmeal production totalled 275,000 tonnes with price quotes at US$1,620/tonne.
During Mar 3-Mar 27, Peru's fish catch in the southern seas totalled 94,815 tonnes, which was 23% of the 314,185 tonnes quota for the season.
Demand for fishmeal was limited with soymeal prices falling tremendously. With the hog sector sluggish, feed producers were cautious in making purchases despite the recovery of the aquaculture sector.
Ports inventories expanded to 155,600 tonnes over the week in review.
For FAQ fishmeal products, price quotes stayed flat in RMB8,650-9,900/tonne.
Fishmeal market is set to stay weak with soymeal prices low. Even as qua feed demand expands, feed producers will limit purchases to be on the safe side.
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