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11 Aug 2025

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Cash market of China fishmeal has been reducing by RMB200/ton in averaged at main ports during the week. The most popular range for the time being is to be bidding as RMB11,700/ton at Shanghai port while Peru has just officially announced fishing quota for 2^nd anchovy season of 2020 which is valid since Nov 12^th.

According to this newly announcement, there’s a bigger-than-expected quota for fishing anchovy with soonest validity since Nov 12^th. Going with this circumstance, Chinese fishmeal importers have commonly thought such quota could be seen as a disadvantaged point to move down RMB cash trend during the period China moves to winter 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 Week #45	周数 Week #44	环比变化 Changes
大连 Dalian	超级Super Prime 68%	11700	11900	-200
大连 Dalian	普通Standard 65%	9800	10000	-200
天津 Tianjin	超级 Super Prime 68%	11700	11900	-200
天津 Tianjin	普通 Standard 65%	9800	10000	-200
上海 Shanghai	超级 Super Prime 68%	11700	11900	-200
上海 Shanghai	普通 Standard 65%	9800	10000	-200
黄埔 Huangpu	超级 Super Prime 68%	11700	11900	-200
黄埔 Huangpu	普通 Standard 65%	9800	10000	-200

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 #45			Wk 44
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	30320	5410	7500	28230
黄埔Huangpu	56390	11710	11600	56500
天津 Tianjin	900	210	500	610
大连Dalian	11100	1450	3200	9350
其他Other	25820	2780	3400	25200
合计Total Qty	124530	21560	26200	119890
上周鱼粉出库量				25250
Total FM sold/off-take from ports warehouse previous week:				25250
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 9/Nov/2020			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #45	Wk #44
Zhejiang	63% / TVN 130 (semi-defatted)	9,400	9,700
Zhejiang	65% / TVN 130 (semi-defatted)	10,200	10,200
Shandong	65% / TVN 130 (semi-defatted)	10,200	10,200
- Prices would look up to imported products while Peru has already announced quota for 2^nd season.

White Fishmeal

Updated: 9/Nov/2020			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #45	Wk #44	Changes
American Seafoods	16,000~16,200	16,000~16,200	--
Russian WFM - 60% - high pro	13,500~13,800	13,500~13,800	--
- 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 #45	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: CFO measures RMB cash trend would be gradually slowing down again while there’s a newly announced bigger-than-expected anchovy fishing quota since Nov 12^th. The stockpiles of China fishmeal would pile up during winter off season. And, the cargoes shipped from 2^nd season would continue to accumulate it up during next Q1.

Such quota would not immediately pile up the level of China fishmeal at ports. However, such numerous numbers would directly add up the capacity of fishmeal supply from Peru to China since next Q1.

During the fishing period, Chinese fishmeal consumption would be simultaneously moving into winter off season and indirectly top up the stress to reduce RMB cash trend if currency of RMB keeps appreciating status.

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 #45	周数 Wk #44	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: 9/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	3,212	3,174	3,249	3,246
May 2021	3,113	3,031	3,082	3,070
September 2021	3,126	3,055	3,092	3,067