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24 Nov 2024

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Cash trend of China fishmeal has been moving down to RMB17,700/ton at Shanghai port during the week while Chinese fishmeal industry remains busy at fishmeal off-take before traditional lunar Moon festival and the National Day holidays. As of CFO records, Chile and other resources have shipped certain amounts of fishmeal cargoes during summer to China ports to strongly support such 158k tons of total stockpiles as a safety stock before next anchovy 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 Week38	周数 Week37	环比变化 Changes
大连	SD68% 超级	18000	18200	-200
大连	SD65%普通	16600	16800	-200
天津	SD68% 超级	18200	18200	0
天津	SD65%普通	16800	16800	0
上海	SD68% 超级	17700	18000	-300
上海	SD65%普通	16500	16500	-300
黄埔	SD68% 超级	17700	18000	-300
黄埔	SD65%普通	16500	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 #38			Wk #37
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	29650	6480	1300	34830
黄埔Huangpu	76590	15440	10000	82030
天津 Tianjin	230	90	100	220
大连Dalian	7160	950	300	7810
其他Other	32900	2670	2000	33570
合计Total Qty	146530	25630	13700	158460
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				24430
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 25/Sep/2023			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #38	Wk #37
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: 25/Sep/2023			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #38	Wk #37	Changes
American Seafood	18,000~18,500	18,000~18,500	--
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 #38	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	5300-5400	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: RMB cash trend would keep fluctuation at RMB17,000/ton and/or going down to a rational level when next anchovy season known. Before that, no matter when next fishing could practically kick off in Oct or Q4 of 2023, Chinese fishmeal industry would conservatively rely on cargoes shipped from Chile and other resources. During suspended fishing in Peru, those cargoes have not only made RMB a downtrend, but strongly kept such 150K-158K tons of stockpiles as safety stock through summer.

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 #38	周数 Wk #37	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	5,800	6,000	11/12 2023	-200
澳大利亚, 散装/牛 Australia, beef Bulk	48%	5,800	6,000	10/11 2023	-200
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: 25/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	3,941	4,029	4,103	4,041
May 2024	3,379	3,420	3,484	3,447
Sep 2024	3,410	3,442	--	--