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21 Nov 2024

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Cash trend of China fishmeal has been staying quietly flat at RMB12,500/ton during the week at Shanghai port since lockdown remains its validity to restrict certain economic activities for more than a month. However, market could be re-opened in this harbor city measurably during June as of government needs time to catch up with annual economic growth of year 2022.

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 #19	周数 Week #18	环比变化 Changes
大连	SD68% 超级	13000	13000	0
大连	SD65%普通	12000	12000	0
天津	SD68% 超级	13100	13100	0
天津	SD65%普通	12100	12100	0
上海	SD68% 超级	12500	12500	0
上海	SD65%普通	11500	11500	0
黄埔	SD68% 超级	13000	13000	0
黄埔	SD65%普通	12000	12000	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 #19			Wk 18
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	68990	1520	14000	56510
黄埔Huangpu	85720	13430	21000	78150
天津 Tianjin	1350	210	0	1560
大连Dalian	16790	1890	1600	17080
其他Other	48460	2700	3500	47660
合计Total Qty	221310	19750	40100	200960
上周鱼粉出库量				17450
Total FM sold/off-take from ports warehouse previous week:				17450
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 18/May/2022			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #19	Wk #18
Zhejiang	63% / TVN 150 (semi-defatted)	10,800	10,800
Zhejiang	65% / TVN 150 (semi-defatted)	11,500	11,500
Shandong	65% / TVN 100 (semi-defatted)	11,400	11,400
- Domestic prices keep strong while spring breeding would be started up soon since earlier of March.

White Fishmeal

Updated: 18/May/2022			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #19	Wk #18	Changes
American Seafoods	15,300~15,500	15,300~15,500	--
Russian WFM - 60% - high pro	13,000	13,000	--
- 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 #19	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	3200-3250	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	3300-3350	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	3400-3450	FOB FCL
粗制欧米茄3 桶装	Crude (Omega-3) in Drums	3600-3700	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments:

RMB Market: CFO measures the recent cash trend of China fishmeal would be determined by depreciating currency of RMB where may obviously lift up landed cost of imported goods. However, the weakening down breeding activity with its feed consumptions in China so far would not ideally support such high-rise fishing quota with its anchovy catching results for the time being in Peru.

On the other hand, as of recent reportedly results of unloaded fishmeal cargoes, the entire inventory of China fishmeal could shortly move up to 250k tons and to become a threat to reduce cash market.

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 #19	周数 Wk #18	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	5,500	5,500	07 2022	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	5,400	5,400	06 2022	--
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: 18/May/2022				Unit: RMB/mt
China Soybean Meal Market Future Price
Contract Period	Today’s Price	1 weeks ago	2 week ago	3 weeks ago
May 2022	4,056	4,039	--	4,087
September 2022	4,122	3,927	--	3,956
January 2023	3,886	3,733	--	3,723