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20 Dec 2025

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Cash trend of China fishmeal has been remaining firm at RMB11,400/ton at Shanghai port during the week while there’s a slightly slowing down stockpiles of China fishmeal at ports. However, as of CFO’s local authority, the slowing down breeding activity of China live pig is to identify again there’s a going up infections at covid-19 in certain areas of China. It would basically lead feeds consumption to a slowing down status by year end of 2021.

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 #43	周数 Week #44	环比变化 Changes
大连	SD68% 超级	11500	11500	0
大连	SD65%普通	10200	10200	0
天津	SD68% 超级	11600	11600	0
天津	SD65%普通	10300	10300	0
上海	SD68% 超级	11400	11400	0
上海	SD65%普通	10100	10100	0
黄埔	SD68% 超级	11400	11400	0
黄埔	SD65%普通	10100	10100	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 #44			Wk 43
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	59770	4410	3700	60480
黄埔Huangpu	88290	9160	5200	92250
天津 Tianjin	1310	140	0	1450
大连Dalian	8570	1720	1600	8690
其他Other	39540	2710	3200	39050
合计Total Qty	197480	18140	13700	201920
上周鱼粉出库量				19740
Total FM sold/off-take from ports warehouse previous week:				19740
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 8/Nov/2021			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #44	Wk #43
Zhejiang	63% / TVN 130 (semi-defatted)	9,200	9,000
Zhejiang	65% / TVN 130 (semi-defatted)	9,800	9,600
Shandong	65% / TVN 100 (semi-defatted)	9,900	9,800
- Domestic fishing activity has shown steady status with firm production.

White Fishmeal

Updated: 8/Nov/2021			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #44	Wk #43	Changes
American Seafoods	15,700	15,700	--
Russian WFM - 60% - high pro	13,500	13,500	--
- 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 #44	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	2300-2350	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	2350-2400	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	2400-2450	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: CFO measures RMB cash trend would be keeping firm at recent bidding range due to political concerns. Besides high-rise stockpiles of China fishmeal at ports, the reportedly slowing down breeding activity brought by live pig industry with its reducing feeds consumption would lead RMB cash trend to certain risks by year end of 2021.

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 #43	周数 Wk #42	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	5,100	5,100	12 2021/01 2022	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	5,000	5,000	11/12 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: 8/Nov/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 2022	3,088	3,159	3,289	3,230
May 2022	2,928	3,008	3,054	3,027
September 2022	3,009	3,075	3,123	3,102