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17 May 2024

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In accordance with current USD quotes, RMB cash trend would be tentatively showing steady status at RMB11,900/ton though currency of RMB keeps relatively appreciating status. However, the flexibility of the reducing landed costs at China ports would not that much as previous periods if exchange rate keeps steady at 6.7Yen against 1.0USD.

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 #44	周数 Week #43	环比变化 Changes
大连 Dalian	超级Super Prime 68%	11900	11900	0
大连 Dalian	普通Standard 65%	10000	10000	0
天津 Tianjin	超级 Super Prime 68%	11900	11900	0
天津 Tianjin	普通 Standard 65%	10000	10000	0
上海 Shanghai	超级 Super Prime 68%	11900	11900	0
上海 Shanghai	普通 Standard 65%	10000	10000	0
黄埔 Huangpu	超级 Super Prime 68%	11900	11900	0
黄埔 Huangpu	普通 Standard 65%	10000	10000	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	Wk #44			Wk 43
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	28230	6360	10000	24590
黄埔Huangpu	56500	14260	17500	53260
天津 Tianjin	610	350	300	660
大连Dalian	9350	1490	5100	5740
其他Other	25200	2790	3700	24290
合计Total Qty	119890	25250	36600	108540
上周鱼粉出库量				28690
Total FM sold/off-take from ports warehouse previous week:				28690
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 2/Nov/2020			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #44	Wk #43
Zhejiang	63% / TVN 130 (semi-defatted)	9,700	9,700
Zhejiang	65% / TVN 130 (semi-defatted)	10,200	10,200
Shandong	65% / TVN 100 (semi-defatted)	10,200	10,300
- Prices would stay firm to meet up with imported products.

White Fishmeal

Updated: 2/Nov/2020			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #44	Wk #43	Changes
American Seafoods	16,000~16,200	16,000~16,200	--
Russian WFM - 60% - high pro	13,500~13,800	13,000~13,200	+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 #44	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	2150-2250	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	2200-2300	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	2300-2400	FOB FCL
粗制欧米茄3 桶装	Crude (Omega-3) in Drums	2400-2500	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments:

RMB Market: In a short term, the upcoming fishing quota of 2^nd anchovy season would determine RMB cash trend. Currency of RMB would keep firm if there’s a regular range located at 6.65Yen against 1USD during the typical Q4 slow season of fishmeal consumption in China.

The stockpiles of China fishmeal would measurably keep accumulating up till next Q1 of 2021, and the fishing quota of 2^nd anchovy season would soon frame up how RMB cash market goes up or slows down during the rest days of 2020.

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 #44	周数 Wk #43	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	4,500	4,500	01 2021	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	4,400	4,400	11 2020	--
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: 2/Nov/2020				Unit: RMB/mt
China Soybean Meal Market Future Price
Contract Period	Today’s Price	1 weeks ago	2 week ago	3 weeks ago
January 2021	3,174	3,249	3,246	3,286
May 2021	3,031	3,082	3,070	3,061
September 2021	3,055	3,092	3,067	3,041