Welcome to global CFO

12 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 Shanghai port during the week. The most acceptable bidding range of China fishmeal at Shanghai port is to be RMB11,500/ton for the time being.

Though there’s a slightly uptrend by going up RMB100/ton at northern main ports, Huangpu and Shanghai ports have been keeping steady status at the range of RMB11,400-11,500/ton during the week.

Though the entire stockpile of China fishmeal at main ports has been reducing down below 100k tons, CFO measures domestic fishmeal users would soon ready to stop procurements but moving into long holiday of Chinese lunar New Year.

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 #1	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	0
天津	SD65%普通	10100	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 #01			Wk 53
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	22460	3590	400	25650
黄埔Huangpu	44080	9690	2600	51170
天津 Tianjin	760	240	0	1000
大连Dalian	5590	2140	800	6930
其他Other	21930	2680	2180	22430
合计Total Qty	94820	18340	5980	107180
上周鱼粉出库量				18510
Total FM sold/off-take from ports warehouse previous week:				18510
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 11/Jan/2021			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #01	Wk #53
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: 11/Jan/2021			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #01	Wk #53	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 #01	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	2000-2100	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	2050-2150	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	2100-2200	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 properly keeping steady at the range of RMB11,500/ton though there’s a reportedly 11% of increment at anchovy fishing from a year earlier in Peru.

Before Chinese lunar New Year, it seems the entire stockpile of China fishmeal would keep reducing to support cash trend, the appreciating currency of RMB could relatively work as a leverage point by lowering imported tariffs to keep China market in a steady 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 #01	周数 Wk #53	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	4,700	4,700	03 2021	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	4,500	4,500	02 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: 11/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	3,605	3,422	3,238	3,239
May 2021	3,612	3,489	3,323	3,298
September 2021	3,621	3,528	3,374	3,335