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24 Nov 2024

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Cash trend of China fishmeal has been keeping moving down to RMB18,000/ton at Shanghai port during the week while Chinese fishmeal users are expecting to see cost-down to meet up with so far 19-20% of less fishmeal utilization in the country from a year earlier. Though next anchovy season is till uncertain, the worst performance of shipping Peruvians’ fishmeal cargoes by end of 2023 to China ports would be seeing by reducing 50-60% from a year earlier. So far, the supply of super prime is tough, Chinese fishmeal industry would be working as a role to deliver appropriate productions to domestic users during Sept and Oct.

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 Week36	周数 Week37	环比变化 Changes
大连	SD68% 超级	18400	18200	-200
大连	SD65%普通	17000	16800	-200
天津	SD68% 超级	18400	18200	-200
天津	SD65%普通	17000	16800	-200
上海	SD68% 超级	18300	18000	-300
上海	SD65%普通	16800	16500	-300
黄埔	SD68% 超级	18300	18000	-300
黄埔	SD65%普通	16800	16500	-300

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 #37			Wk #36
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	34830	6280	2400	38710
黄埔Huangpu	82030	14450	8000	88480
天津 Tianjin	220	70	0	290
大连Dalian	7810	930	900	7840
其他Other	33570	2700	2900	33370
合计Total Qty	158460	24430	14200	168690
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				22400
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 18/Sep/2023			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #37	Wk #36
Zhejiang	63% / TVN 150 (semi-defatted)	14,500	14,500
Zhejiang	65% / TVN 150 (semi-defatted)	15,100	15,100
Shandong	65% / TVN 100 (semi-defatted)	14,900	14,900

White Fishmeal

Updated: 18/Sep/2023			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #37	Wk #36	Changes
American Seafood	18,000~18,500	19,000	-750
Russian WFM-60%-high pro	17,500	17,500	--
- 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 #37	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	5400-5500	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	9200+	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments: Chinese fishmeal users look forward cost-down to support fishmeal utilization when there’s a measurably 20% of less utilization by year end. China domestic productions would provide limited deliveries but stable enough to local users during Sept and Oct. However, the longer term of supply stability would be depending on clear progress at next anchovy fishing and other resources..

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 #37	周数 Wk #36	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	6,000	6,000	11 2023	--
澳大利亚, 散装/牛 Australia, beef Bulk	48%	6,000	6,000	10 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: 18/Sep/2023				Unit: RMB/mt
China Soybean Meal Future Market Price
Contract Period	Today Price	1 weeks ago	2 weeks ago	3 weeks ago
Jan 2024	4,029	4,103	4,041	4,120
May 2024	3,420	3,484	3,447	3,519
Sep 2024	3,442	--	--	--