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20 Dec 2025

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Cash market of China fishmeal has been climbing up to RMB11,400/ton at Shanghai port during the week while there’s a lower-than-expected fishing quota announced by Peru for 1^st anchovy season of 2021. Such a newly announcement bearing with 2.509 million tons of anchovy fishing has truly served as a fact that imminently supports RMB cash market. However, the accumulating up fishmeal stockpile which is now nearly 200k tons located at China ports would keep reduce RMB cash market.

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 #16	周数 Week #15	环比变化 Changes
大连	SD68% 超级	11400	10800	+600
大连	SD65%普通	10100	9500	+600
天津	SD68% 超级	11500	11000	+500
天津	SD65%普通	10200	9700	+500
上海	SD68% 超级	11400	10800	+600
上海	SD65%普通	10100	9500	+600
黄埔	SD68% 超级	11400	10800	+600
黄埔	SD65%普通	10100	9500	+600

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 #16			Wk 15
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	65770	6620	9000	63390
黄埔Huangpu	82030	7240	14000	75270
天津 Tianjin	2070	140	300	1910
大连Dalian	20690	1900	2400	20190
其他Other	25530	2680	3400	24810
合计Total Qty	196090	18580	29100	185570
上周鱼粉出库量				18300
Total FM sold/off-take from ports warehouse previous week:				18300
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 26/Apr/2021			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #16	Wk #15
Zhejiang	63% / TVN 130 (semi-defatted)	9,300	9,200
Zhejiang	65% / TVN 130 (semi-defatted)	10,000	9,800
Shandong	65% / TVN 100 (semi-defatted)	10,300	10,000
- Prices are slightly weak when imported fishmeal keeps low.

White Fishmeal

Updated: 26/Apr/2021			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #16	Wk #15	Changes
American Seafoods	16,500	16,500	--
Russian WFM - 60% - high pro	14,000	14,000	--
- 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 #16	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	1750-1850	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	1800-1900	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	1850-1950	FOB FCL
粗制欧米茄3 桶装	Crude (Omega-3) in Drums	2200-2300	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments:

RMB Market: RMB cash market would shortly keep uptrend to react on such 2.509 million tons of fishing quota which is a slightly lower-than-expected number announced by Peru days ago. CFO measures RMB cash market would shortly return to see how Peru implements fishing achievement if the reportedly high incidence of juveniles makes fishing in difficult.

However, on the other hand, China ports would keep receiving cargoes in April and May from Peru’s last season where would accumulate the entire stockpiles of China fishmeal up to 200k tons or more soon.

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 #16	周数 Wk #15	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	4,800	4,800	06 2021	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	4,700	4,700	05 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: 26/Apr/2021				Unit: RMB/mt
China Soybean Meal Market Future Price
Contract Period	Today’s Price	1 weeks ago	2 week ago	3 weeks ago
May 2021	3,519	3,433	3,338	3,369
September 2021	3,649	3,542	3,453	3,513
January 2022	3,614	3,498	3,425	3,490