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24 Nov 2024

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Cash trend of China fishmeal has been keeping tight at RMB14,900/ton at Shanghai port during the week while there’s no further progress at anchovy fishing. Though IMARPE has started up newly exploratory fishing till end of May to identify how appropriately marine biomass is for fishing, there’s a foreseeable postponed season where would delay fishmeal supply from recent years.

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 Week20	周数 Week19	环比变化 Changes
大连	SD68% 超级	15000	15000	0
大连	SD65%普通	14000	14000	0
天津	SD68% 超级	15000	15000	0
天津	SD65%普通	14000	14000	0
上海	SD68% 超级	14900	14900	0
上海	SD65%普通	13900	13900	0
黄埔	SD68% 超级	14900	14900	0
黄埔	SD65%普通	13900	13900	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 Ports	Wk #20			Wk #19
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	64460	6780	11000	60240
黄埔Huangpu	130350	14880	20200	125030
天津 Tianjin	1690	210	300	1600
大连Dalian	17830	2000	0	19830
其他Other	43770	2680	2700	43750
合计Total Qty	258100	26550	34200	250450
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				25420
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 22/May/2023			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #20	Wk #19
Zhejiang	63% / TVN 150 (semi-defatted)	13,200	12,800
Zhejiang	65% / TVN 150 (semi-defatted)	13,800	13,300
Shandong	65% / TVN 100 (semi-defatted)	13,600	13,300

White Fishmeal

Updated: 22/May/2023			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #20	Wk #19	Changes
American Seafood	16,000	16,000	--
Russian WFM-60%-high pro	14,000	14,000	--
- 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 #20	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	-	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	-	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments: China ports keeps receiving cargoes from last anchovy season where is surely to be a firm support to further up-rise current inventory at main ports. To see current low consumption in China, there’s likely to approach 280-300k tons of inventory to go through summer of 2023. RMB cash trend would be under support based on postponed fishing with its uncertain marine biomass. But, CFO measures such up-rising inventory at China ports would more or less decelerate the uptrend in a short term.

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 #20	周数 Wk #19	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	6,200	6,200	07 2023	--
澳大利亚, 散装/牛 Australia, beef Bulk	48%	6,200	6,200	06 2023	--
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: 22/May/2023				Unit: RMB/mt
China Soybean Meal Future Market Price
Contract Period	Today Price	1 weeks ago	2 weeks ago	3 weeks ago
Sep 2023	3,488	3,506	3,544	--
Jan 2024	3,377	3,390	3,473	--
May 2024	3,129	3,127	--	--