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24 Nov 2024

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Cash market of China fishmeal has been slowing down to RMB11,500/ton at Shanghai port during the week while Peru has just started up 2^nd anchovy season of 2020. Chinese fishmeal importers have commonly thought such newly announcement with a higher-than-expected fishing quota would more or less reduce RMB cash market during Q4 off season in China.

The entire stockpiles of China fishmeal at main ports have been keeping expansion while the country has already moved into Q4 off season. And, the measurably stockpiles of overall China fishmeal would be easily returning back to 150k tons or more during the season.

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 #45	周数 Week #46	环比变化 Changes
大连 Dalian	超级Super Prime 68%	11700	11500	-200
大连 Dalian	普通Standard 65%	9800	9500	-300
天津 Tianjin	超级 Super Prime 68%	11700	11500	-200
天津 Tianjin	普通 Standard 65%	9800	9500	-300
上海 Shanghai	超级 Super Prime 68%	11700	11500	-200
上海 Shanghai	普通 Standard 65%	9800	9500	-300
黄埔 Huangpu	超级 Super Prime 68%	11700	11400	-300
黄埔 Huangpu	普通 Standard 65%	9800	9500	-300

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 #46			Wk 45
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	30980	5340	6000	30320
黄埔Huangpu	58160	11430	13200	56390
天津 Tianjin	970	230	300	900
大连Dalian	10810	1490	1200	11100
其他Other	27040	2640	3860	25820
合计Total Qty	127960	21130	24560	124530
上周鱼粉出库量				21560
Total FM sold/off-take from ports warehouse previous week:				21560
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 16/Nov/2020			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #46	Wk #45
Zhejiang	63% / TVN 130 (semi-defatted)	9,200	9,400
Zhejiang	65% / TVN 130 (semi-defatted)	10,000	10,200
Shandong	65% / TVN 130 (semi-defatted)	10,000	10,200
- Prices would follow up imported products during Q4.

White Fishmeal

Updated: 16/Nov/2020			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #46	Wk #45	Changes
American Seafoods	16,000~16,200	16,000~16,200	--
Russian WFM - 60% - high pro	13,500~13,800	13,500~13,800	--
- 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 #46	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	2150-2250	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	2200-2300	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	2300-2400	FOB FCL
粗制欧米茄3 桶装	Crude (Omega-3) in Drums	2400-2500	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments:

RMB Market: CFO measures RMB cash trend by end of this month would be basically determined by how Peruvians start up 2^nd season when juveniles are relatively low incidence, and how currency of RMB keeps appreciating status after hits its strongest level against USD since June of 2018.

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 #46	周数 Wk #45	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	4,500	4,500	01 2021	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	4,400	4,400	12 2020	--
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: 16/Nov/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	3,134	3,212	3,174	3,249
May 2021	3,156	3,113	3,031	3,082
September 2021	3,185	3,126	3,055	3,092