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30 Apr 2024

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Cash trend of China fishmeal has been keeping going down to RMB16,400/ton at Shanghai port during the week while total fishmeal inventory stockpiled at main ports remains expansion. As of CFO’s local authority, the growing up breeding activities could be seen since April/May and that could further support seasonal fishmeal consumption during earlier summer.

However, the increasing fishmeal stockpiles would relatively lower RMB cash trend though Peru could measurably start up 1^st season of 2024. CFO has thought the increasing inventory at China ports and the better-than-expected marine biomass would further reduce cash trend in RMB during summer.

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 13	周数 Week14	环比变化 Changes
大连 Dalian	SD68% 超级	16,700	16,700	0
大连 Dalian	SD65%普通	12,700	12,700	0
天津 Tianjin	SD68% 超级	16,700	16,700	0
天津 Tianjin	SD65%普通	12,700	12,700	0
上海 Shanghai	SD68% 超级	16,600	16,400	-200
上海 Shanghai	SD65%普通	12,600	12,400	-200
黄埔 Huangpu	SD68% 超级	16,600	16,400	-200
黄埔 Huangpu	SD65%普通	12,600	12,400	-200

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 Ports	Wk #14			Wk #13
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	43,050	3,720	6, 000	40 ,770
黄埔Huangpu	147, 610	14,080	28,000	133 ,690
天津 Tianjin	900	70	700	270
大连Dalian	7, 990	1,270	1 ,900	7 ,360
其他Other	30 000	2,660	3 ,000	29 ,660
合计Total Qty	229 ,550	21,800	39 ,600	211 ,750
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				19,200
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 08/Apr/2024			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #13	Wk #14
Zhejiang	63% / TVN 150 (semi-defatted)	12,500	12,500
Zhejiang	65% / TVN 150 (semi-defatted)	13,000	13,000
Shandong	65% / TVN 100 (semi-defatted)	12,500	12,500

White Fishmeal

Updated: 08/Apr/2024			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #13	Wk #14	Changes
American Seafood	17,500	17,500	--
Russian WFM-60%-high pro	16,500	16,500	--
- An indication only, pricing range due to various quality, freshness and brand. - Above prices are importing duties paid.

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/包装 Origin/Packing	蛋白 Protein	周数 Wk #13	周数 Wk #14	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	4,800	4,800	4/5 2024	--
澳大利亚, 散装/牛 Australia, Beef Bulk	48%	4,900	4,900	4/5 2024	--
此价格每周更新非实盘仅供参考 Price is updated weekly just an indication for reference only

鸡肉粉参考价格（人民币/吨） Poultry Meal Price Ideas (RMB/mt)
产地/包装 Origin/Packing	蛋白 Protein	周数 Wk #13	周数 Wk #14	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	8,500	8,200-8,500	4/5 2024	--
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: 08/Apr/2024				Unit: RMB/mt
China Soybean Meal Future Market Price
Contract Period	Today Price	1 weeks ago	2 weeks ago	3 weeks ago
May 2024	3,244	3,260	3,249	3,266
Sep 2024	3,323	3,331	3,278	3,280
Jan 2025	3,274	3,290	3,253	3,264