Welcome to global CFO

05 Jan 2021

Sources:

CFO Exclusive

We (CFO) are pleased to update below China FEED market information for you:

I. FISHMEAL / FISH Oil SECTION

Brief China RMB Cash Market:

Cash trend of China fishmeal has been remaining firm at RMB11,500/ton at Shanghai port while 1^st week of 2021 has just begun. RMB cash trend has been basically keeping quietly flat without apparent fluctuation though there’s still under off-season in the country. Chinese lunar new year is not far from now, and those fishmeal importers would commonly maintain steady bidding range as usual.

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 #53	周数 Week #52	环比变化 Changes
大连	SD68% 超级	11600	11500	0
大连	SD65%普通	10100	10000	0
天津	SD68% 超级	11600	11500	+100
天津	SD65%普通	10100	10000	+100
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 #53			Wk 52
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	25650	3690	2100	27240
黄埔Huangpu	51170	9860	4800	56230
天津 Tianjin	1000	210	0	1210
大连Dalian	6930	2070	600	8400
其他Other	22430	2680	1400	23710
合计Total Qty	107180	18510	8900	116790
上周鱼粉出库量				20040
Total FM sold/off-take from ports warehouse previous week:				20040
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 4/Jan/2021			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #53	Wk #52
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 Chinese lunar new year.

White Fishmeal

Updated: 4/Jan/2021			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #53	Wk #52	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 #53	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 RMB cash trend would be gradual slowing down below RMB11,300/ton in a short term. The appreciating currency of RMB is the key to slow down the imported tariffs where is properly to be a fact that reduces RMB cash trend in a longer term. However, the fishing accomplishment so far in Peru would more or less work as a leverage point to dilute currency issue.

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 #53	周数 Wk #52	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	4,700	4,700	02 2021	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	4,500	4,500	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: 4/Jan/2021				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	3,422	3,238	3,239	3,046
May 2021	3,489	3,323	3,298	3,112
September 2021	3,528	3,374	3,335	3,167