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22 Nov 2024

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Cash trend of China fishmeal has been moving down to RMB17,300/ton at Shanghai port during the week while total inventory of China fishmeal has already expanded up to 200k tons. However, most of those stockpiles located at China ports are prime products that would more or less reduce RMB cash trend during off 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 Week49	周数 Week48	环比变化 Changes
大连	SD68% 超级	17300	17600	-300
大连	SD65%普通	14700	15000	-300
天津	SD68% 超级	17400	17800	-400
天津	SD65%普通	14700	15000	-300
上海	SD68% 超级	17300	17500	-200
上海	SD65%普通	13000	13800	-800
黄埔	SD68% 超级	17300	17500	-200
黄埔	SD65%普通	13000	13800	-800

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 #49			Wk #48
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	36830	2640	5200	34270
黄埔Huangpu	137230	9250	21000	125480
天津 Tianjin	360	70	200	230
大连Dalian	3360	660	0	4020
其他Other	31840	2670	3200	31310
合计Total Qty	209620	15290	29600	195310
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				15760
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 11/Dec/2023			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #49	Wk #48
Zhejiang	63% / TVN 150 (semi-defatted)	9,800	10,800
Zhejiang	65% / TVN 150 (semi-defatted)	10,700	12,000
Shandong	65% / TVN 100 (semi-defatted)	10,300	11,300

White Fishmeal

Updated: 11/Dec/2023			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #49	Wk #48	Changes
American Seafood	17,500~18,000	17,500~18,000	--
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.

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 #49	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	5100-5200	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	10000+	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments: Cash trend of China fishmeal would be gradually going down to RMB17,000/ton at Shanghai port while there’s an expanding fishmeal inventory at main ports during off season. However, going with strong supply of other grades such like prime fishmeal products shipped from other resources, RMB cash trend would keep going down during off season. But, as of CFO investigation, there will be showing 5% of growth at total fishmeal demands in the year of 2024.

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 #49	周数 Wk #48	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	5,000~5,500	5,000~5,500	3 2024	--
澳大利亚, 散装/牛 Australia, beef Bulk	48%	5,000~5,400	5,000~5,400	12 2023/1 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: 11/Dec/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	3,969	3,886	3,902	3,987
May 2024	3,418	3,366	3,425	3,493
Sep 2024	3,438	3,382	3,448	3,505