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20 Dec 2025

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Cash trend of China fishmeal has been slightly going up to RMB12,300/ton at Shanghai port while total fishmeal inventory stockpiled at main ports has located at 165k tons for weeks. Though spring breeding in China has not yet entirely started up in southern farms, Chinese importers would pay very high attention on how Peruvians frame up 1^st fishing season and recent military tension in East Europe.

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 #9	周数 Week #8	环比变化 Changes
大连	SD68% 超级	12300	12200	+100
大连	SD65%普通	10900	10900	0
天津	SD68% 超级	12300	12300	+100
天津	SD65%普通	11000	11000	0
上海	SD68% 超级	12300	12200	+100
上海	SD65%普通	10900	10900	0
黄埔	SD68% 超级	12300	12200	+100
黄埔	SD65%普通	10900	10900	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 #09			Wk 08
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	37660	6590	7300	36950
黄埔Huangpu	75170	7030	7300	74900
天津 Tianjin	1100	210	0	1310
大连Dalian	7600	1940	1700	7840
其他Other	44630	2700	3400	43930
合计Total Qty	166160	18470	19700	164930
上周鱼粉出库量				13300
Total FM sold/off-take from ports warehouse previous week:				13300
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 9/Mar/2022			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #09	Wk #08
Zhejiang	63% / TVN 130 (semi-defatted)	10,000	10,000
Zhejiang	65% / TVN 130 (semi-defatted)	10,900	10,900
Shandong	65% / TVN 100 (semi-defatted)	10,600	10,600
- Domestic prices keep strong while spring breeding would be started up soon since earlier of March.

White Fishmeal

Updated: 9/Mar/2022			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #09	Wk #08	Changes
American Seafoods	14,800~15,000	14,800~15,000	--
Russian WFM - 60% - high pro	12,800	12,800	--
- 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 #09	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	3300-3350	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	3400-3450	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	3500-3550	FOB FCL
粗制欧米茄3 桶装	Crude (Omega-3) in Drums	3400-3500	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments:

RMB Market: CFO measures cash trend of China fishmeal could be keeping moving up a little due to uncertainty about how Peru frames up 1^st fishing season of 2022. Besides it, the recent military tension in East Europe would measurably move up costs of producing and shipping plant protein products.

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 #09	周数 Wk #08	船期 Shipment	周变化 Changes
乌拉圭, 散装／牛 Uruguay, Beef Bulk	45-47%	5,400	5,400	04/05 2022	--
澳大利亚，散装／牛 Australia, beef Bulk	50%	5,300	5,300	03/04 2022	--
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: 9/Mar/2022				Unit: RMB/mt
China Soybean Meal Market Future Price
Contract Period	Today’s Price	1 weeks ago	2 week ago	3 weeks ago
May 2022	4,041	3,862	3,796	3,724
September 2022	3,893	3,747	3,753	3,686
January 2023	3,602	3,521	3,515	3,473