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20 Dec 2025

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Cash trend of China fishmeal has been remaining firm at RMB11,500/ton at Shanghai port when there’s a regular scale of fishmeal off-take from China ports. The usual fishmeal consumption by end of 2020 would be keeping a typical off season pattern though so far the entre stockpile of China fishmeal has been slightly below 150k tons.

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 #51	周数 Week #50	环比变化 Changes
大连	SD68% 超级	11500	11500	0
大连	SD65%普通	10000	10000	0
天津	SD68% 超级	11500	11500	0
天津	SD65%普通	10000	10000	0
上海	SD68% 超级	11500	11500	0
上海	SD65%普通	10000	10000	0
黄埔	SD68% 超级	11400	11400	0
黄埔	SD65%普通	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 #51			Wk 50
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	28310	3150	2400	29060
黄埔Huangpu	56640	6420	3200	59860
天津 Tianjin	1350	140	0	1490
大连Dalian	10630	1850	1500	10980
其他Other	25710	3740	3540	25910
合计Total Qty	122640	15300	10640	127300
上周鱼粉出库量				17860
Total FM sold/off-take from ports warehouse previous week:				17860
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 21/Dec/2020			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #51	Wk #50
Zhejiang	63% / TVN 130 (semi-defatted)	9,400	9,400
Zhejiang	65% / TVN 130 (semi-defatted)	10,000	10,000
Shandong	65% / TVN 100 (semi-defatted)	10,100	10,100
- Prices would be steady before end of the year.

White Fishmeal

Updated: 21/Dec/2020			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #51	Wk #50	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 #51	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	2450-2500	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	2500-2550	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	2600-2650	FOB FCL
粗制欧米茄3 桶装	Crude (Omega-3) in Drums	2700-2800	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments:

RMB Market: CFO measures China fishmeal market would be keeping steady at the range of RMB11,200-11,500/ton in a short term. The appreciating currency of RMB is still a fact that reduces the imported tariffs, and the measurably exchange rate would be keeping Yen6.5 against USD1. Thus, RMB cash trend could gradual slow down to RMB11,200 after New Year holiday.

In additions, the smoothly progress at anchovy fishing in Peru would support RMB market a sufficient fishmeal supply during 1H of 2021 though cargoes arrangement could be a tough task during covid-19 period.

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 #51	周数 Wk #50	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	4,600	4,600	02 2021	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	4,400	4,400	02/01 2021	--
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: 21/Dec/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	3,239	3,046	3,064	3,170
May 2021	3,298	3,112	3,109	3,230
September 2021	3,335	3,167	3,164	3,263