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CFO News Weekly Update # 46-47

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23 Nov 2023
Sources: 
CFO Exclusively

1) Weekly Report (Wk # 46)
- Fishmeal Inventory at port is 170,340 mt 
- Weekly off take 16,990 mt
- Weekly arrival 32,500 mt
Full report, please click below link CFO China Feed Market Weekly Update #46/2023

2) Today’s Price Indication (22 November 2023)

Products

Origin

Quality

RMB/mt

SBM

China

43%

4,170

Canola Meal

China

36%

3,050

DDGS

USA

26/28%

2,550

Fishmeal

Peru

Super

17,500-17,900

Fishmeal

China

63/150

11,500

MBM

Uruguay/Argentina

Beef 45%

5,000

MBM

Australia

Beef 48%

5,000

PBM

USA

65%

8,500


3) Importing Statistics / October 2023
Major importing items including Fishmeal, Fish oil, MBM, PBM, Soybean, Canola Meal.
Please click here [CFO Statistics Page] to take a look.

4) China Feed Production October 2023

item

Total
Production

Compound
Feed

Concentrate
Feed

Additive
Premix

October 2023 (10,000 ton)

2,762

2,574

113

60

+/- compare with Sep 2023 (%)

-2.0

-1.7

-5.3

-9.5

+/- compare with Jan to Oct 2022 (%)

-0.5

0.0

-13.5

+0.7

Total Jan-Oct 2023 (10,000 ton)

26,026

24,186

1,147

583

+/- Cumulative Jan-Oct yr-on-yr %

+7.8

+8.0

-1.1

+16.8


Today Comments:
Soybean Meal: Continued losses in pig and broiler farming, SBM is keeping weak in demand.
Fishmeal: Importing fishmeal of standard grade RMB selling price is adjusted lower for about RMB 300/mt at about RMB 14700-15600/mt level. As for China local produced fishmeal RMB prices are also declining at about RMB 500/mt. Per our investigation, 63% protein with TVN 150 is offered at RMB 11,500/mt. This time adjustment mainly is from weak demand. Foresee the fishmeal cash market in China is continuing weak.
Animal Protein: At present, most of PBM Chinese importers facing a severe losses and some are up to RMB2,000/mt. It is hard to move cargo under the weak demand. 


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

 

 

 

 

 

 



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