Welcome to global CFO

14 Sep 2022

Sources:

CFO Exclusive

We (CFO) are pleased to update below China FEED market information for you:

I. FISHMEAL / FISH Oil SECTION

Brief China RMB Cash Market:

Cash trend of China fishmeal has been apparently moving to a downtrend stage while total fishmeal demand measurably in Q4 of 2022 could be weakened from usual. Due to lockdowns constantly, economic activities would not be good as usual and the assessment of fishmeal inventory during rest of 2022 could be climbing up to 300k tons or exceeding that range after receiving Peru’s cargoes shipped from 1^st 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 #35	周数 Week #36	环比变化 Changes
大连	SD68% 超级	13100	13000	-100
大连	SD65%普通	12100	12000	-100
天津	SD68% 超级	13300	13200	-100
天津	SD65%普通	12300	12200	-100
上海	SD68% 超级	12900	12800	-100
上海	SD65%普通	12000	11900	-100
黄埔	SD68% 超级	12900	12800	-100
黄埔	SD65%普通	12000	11900	-100

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 #36			Wk #35
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	45310	8310	18000	35620
黄埔Huangpu	105460	21470	29000	97930
天津 Tianjin	760	160	0	920
大连Dalian	13390	3020	3500	12910
其他Other	47650	3110	3800	46960
合计Total Qty	212570	36070	54300	194340
上周鱼粉出库量				31880
Total FM sold/off-take from ports warehouse previous week:				31880
来源：饲料在线港口代表统计Sources: CFO Port Agents

White Fishmeal

Updated: 13/Sep/2022			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #36	Wk #35	Changes
American Seafoods	15,500~15,800	15,500~15,800	--
Russian WFM - 60% - high pro	13,500	13,500	--
- 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 #36	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	3900-4000	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	-	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	-	FOB FCL
粗制欧米茄3 桶装	Crude (Omega-3) in Drums	4550-4650	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 would be going down below RMB12,500/ton in a short term especially there’s showing an increasing stockpiles of China fishmeal at ports. And, such a moving up inventory at ports in total would be easily keeping up to 300k tons during Q4 and serving itself as a threat reduces RMB cash trend while lockdowns are constantly as a risk at reducing economic activities.

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 #36	周数 Wk #35	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	6,000	5,900	11 2022	+100
澳大利亚，散装／牛 Australia, beef Bulk	50%	6,000	5,900	10 2022	+100
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: 13/Sep/2022				Unit: RMB/mt
China Soybean Meal Market Future Price
Contract Period	Today’s Price	1 weeks ago	2 week ago	3 weeks ago
September 2022	4,935	4,519	4,313	4,332
January 2023	4,060	3,811	3,762	3,853
May 2023	3,751	3,520	3,496	3,566