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24 Nov 2024

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Cash trend of China fishmeal has been remaining firm at RMB11,100/ton at Shanghai port. Though the entire stockpile of China fishmeal has been keeping reducing for the time being, China ports would gradually receive cargoes shipped from Peru’s 1^st anchovy season to refill up those warehousing capacity located at main ports.

RMB cash market seems to approach short term bottom line while currency of RMB has quietly located at 6.8Yen against 1USD. However, due to state-run concerns about reducing the expenses at consumer products, currency of RMB would keep generally appreciating status from current level up to 6.7Yen against 1USD by end of 2020.

RMB Cash Market:

国内主要港口秘鲁鱼粉参考报价表（元/吨） China Peruvian Fishmeal Cash Market by Ports (RMB/mt)
港口 Ports	品质规格 Quality	周数 Week #39	周数 Week #38	环比变化 Changes
大连 Dalian	超级Super Prime 68%	11100	11100	0
大连 Dalian	普通Standard 65%	9300	9300	0
天津 Tianjin	超级 Super Prime 68%	11300	11300	0
天津 Tianjin	普通 Standard 65%	9400	9400	0
上海 Shanghai	超级 Super Prime 68%	11100	11100	0
上海 Shanghai	普通 Standard 65%	9300	9300	0
黄埔 Huangpu	超级 Super Prime 68%	11100	11100	0
黄埔 Huangpu	普通 Standard 65%	9300	9300	0

FM Stock & Off-take:

周中国主要港口进口鱼粉库存表（吨）
China Fishmeal (Stock & Off Take) Weekly Status (mt)
港口	Wk #39			Wk 38
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	14340	9970	7000	17310
黄埔Huangpu	17380	21200	14600	23980
天津 Tianjin	720	540	100	1160
大连Dalian	7260	3360	2900	7720
其他Other	17960	2960	3800	17120
合计Total Qty	57660	38030	28400	67290
上周鱼粉出库量				39140
Total FM sold/off-take from ports warehouse previous week:				39140
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 27/Sep/2020			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #39	Wk #38
Zhejiang	63% / TVN 130 (semi-defatted)	9,000	9,000
Zhejiang	65% / TVN 130 (semi-defatted)	9,600	10,000
Shandong	65% / TVN 100 (semi-defatted)	9,800	10,000
- Prices would go down to compete with imported products.

White Fishmeal

Updated: 27/Sep/2020			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #39	Wk #38	Changes
American Seafoods	16,000~16,200	16,000~16,200	--
Russian WFM - 60% - high pro	13,000~13,200	13,000~13,200	--
- An indication only, pricing range due to various quality, freshness and brand. - Above prices are importing duties paid.

Fish Oil

秘鲁鱼油离岸价格（美元／吨） Peruvian Fish oil Market FOB Price(USD/mt)
品质包装 Quality/Packing		周数Wk #39	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	2000-2100	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	2050-2150	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	2150-2250	FOB FCL
粗制欧米茄3 桶装	Crude (Omega-3) in Drums	2200-2300	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments:

RMB Market: As of CFO records for August 2020, in spite of Peru where shares 58% of monthly fishmeal cargoes arrival at China ports, other resources such as Chile, Vietnam, Mexico, Thailand and Mauritania are firmly recorded up by sharing 28% in the same period. CFO would keep measuring that the reducing stockpiles of China fishmeal would be soon to refill up after 1^st of Oct the National Day holiday.

There’s still lack of gear up facts that generally encourage RMB cash market during October. The recent high-rising performance of fishmeal off-take from China ports is to be brought by the relatively cheaper bidding range in RMB.

II. Animal Protein/Grain Sections

肉骨粉参考价格（人民币／吨） Meat and Bone meal Price Ideas (RMB/mt)
产地 Origin	蛋白 Protein	周数 Wk #39	周数 Wk #38	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	4,400	4,300	12 2020	+100
澳大利亚，散装／牛 Australia, beef Bulk	50%	4,300	4,200	10/11 2020	+100
此价格每周更新非实盘仅供参考 Price is updated weekly just an indication for reference only

Soybean Meal

Updated: 27/Sep/2020				Unit: RMB/mt
China Soybean Meal Market Future Price
Contract Period	Today’s Price	1 weeks ago	2 week ago	3 weeks ago
January 2021	3,106	3,137	3,118	2,990
May 2021	2,900	2,955	2,935	2,850
September 2021	2,928	2,966	--	--