1) Weekly Report (Wk # 41)
- Fishmeal Inventory at port is 131,060 mt 
- Weekly off take 29,320 mt
- Weekly arrival 24,700 mt
Full report, please click below link CFO China Feed Market Weekly Update #41/2023

2) Today’s Price Indication (18 October 2023)

Comment:
SBM/Canola meal: Inventory of SBM gradually reduced and future contract quite active both factors keep the SBM RMB price steady after holiday even though demand from pig & poultry industries are reducing. For aquaculture market, consumption continues to shrink after national holiday, as such demand for rapeseed/canola meal declining, fortunately, canola meal RMB price is more cost-effective comparison with SBM at this moment, It is expected the substation of SBM is going to increase in coming month.

Fishmeal : Imported super prime fishmeal still firm due to limited supply at Chinese ports while lower protein FM such as Thailand/Taiwan grade dropped slightly.  It is reported that a trial fishing in the Central & Northern Peru will be launched on 20/Oct/2023, and we are expecting the season B catching will be officially launched soon after trial fishing.

Animal protein (Poultry Meal): As for PBM, demand is continuing weak after national holiday. And we recorded RMB cash market is unexpected largely dropped not just because entering winter season but over supply. China imported more than double quantity during the First 8 months of 2023 than whole year of 2022. During spring/summer time, Chinese market is too aggressive to import large quantity of PBM. At present, buying intention is low and most of Chinese prefer to wait & see a while as hasn’t see RMB prices tendency stabilized.

Remark:
This is a gentle reminder, for MOA China license renewal, the application should be submitted to Beijing 6 months prior to expire, please contact CFO License Center earlier .  

Any queries, please email: license@21cfo.com