Welcome to global CFO

17 Aug 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 RMB11,100/ton at Shanghai port during the week while there’s no apparent change with regarding the stockpiles of China fishmeal at ports. So far, the entire inventory of China fishmeal remains high and that would more or less reduce RMB cash trend in basic. However, RMB cash trend is still firm with recent bidding range without apparent fluctuation prior to fishing season where would startup from Sept in China.

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 #32	周数 Week #31	环比变化 Changes
大连	SD68% 超级	11100	11100	0
大连	SD65%普通	9800	9800	0
天津	SD68% 超级	11100	11100	0
天津	SD65%普通	9800	9800	0
上海	SD68% 超级	11100	11100	0
上海	SD65%普通	9800	9800	0
黄埔	SD68% 超级	11100	11100	0
黄埔	SD65%普通	9800	9800	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 #32			Wk 31
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	55540	9720	11100	54160
黄埔Huangpu	118740	19890	18500	120130
天津 Tianjin	3550	210	300	3460
大连Dalian	14070	1770	800	15040
其他Other	37880	1420	1300	38000
合计Total Qty	229780	33010	32000	230790
上周鱼粉出库量				26760
Total FM sold/off-take from ports warehouse previous week:				26760
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 16/Aug/2021			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #32	Wk #31
Zhejiang	63% / TVN 130 (semi-defatted)	9,000	9,000
Zhejiang	65% / TVN 130 (semi-defatted)	9,600	9,600
Shandong	65% / TVN 100 (semi-defatted)	9,800	9,800
- Domestic fishmeal production has moved to off season due to ban.

White Fishmeal

Updated: 16/Aug/2021			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #32	Wk #31	Changes
American Seafoods	16,200	16,200	--
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 #32	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	2500-2600	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments:

RMB Market: Chinese would move to fishing season since earlier of Sept, and that could more or less increase fishmeal supply while there’s still showing a relatively sufficient inventory of imported fishmeal products at main ports. CFO measures such high level of fishmeal stockpiled at main ports must be reducing down to 150-200k tons at least to attract overseas production. Relatively high fishmeal stockpiles at ports could reduce overseas production with its China domestic cash trend at the end.

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 #32	周数 Wk #31	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	4,900	4,900	10 2021	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	4,800	4,800	09 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: 16/Aug/2021				Unit: RMB/mt
China Soybean Meal Market Future Price
Contract Period	Today’s Price	1 weeks ago	2 week ago	3 weeks ago
September 2021	3,675	3,617	3,636	3,503
January 2022	3,639	3,572	3,588	3,497
May 2022	3,400	3,335	3,349	3,279