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19 Nov 2025

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Cash trend of China fishmeal has been keeping quiet status but gradual slowing down to RMB11,600-11,800/ton at Shanghai port. During the week, with current slowing down fishmeal off-take from ports, the entire stockpiles of China fishmeal has already climbed up to 170K tons that became a threat during rest of October to reduce cash trend. Normally, October is to be the usual period where performs less fishmeal consumption.

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 #42	环比变化 Changes
大连 Dalian	超级Super Prime 68%	11600-11800	11800	-100
大连 Dalian	普通Standard 65%	10500	10500-10600	-50
天津 Tianjin	超级 Super Prime 68%	11700-11800	11800	-50
天津 Tianjin	普通 Standard 65%	10500-10600	10600	-50
上海 Shanghai	超级 Super Prime 68%	11600-11800	11800	-100
上海 Shanghai	普通 Standard 65%	10500	10500-10600	-50
黄埔 Huangpu	超级 Super Prime 68%	11600-11800	11800	-100
黄埔 Huangpu	普通 Standard 65%	10500	10500-10600	-50

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 #43			Wk 42
Ports	本周	出库量	入库量	上周
	Current Stock	Off Take	Weekly Arrival	Previous Stock
上海Shanghai	59230	5900	8000	57130
黄埔Huangpu	53370	6500	8200	51670
天津 Tianjin	980	210	300	890
大连Dalian	10990	1370	3000	9360
其他Other	45480	3060	2400	46140
合计Total Qty	170050	17040	21900	165190
上周鱼粉出库量				17090
Total FM sold/off-take from ports warehouse previous week:				17090
来源：饲料在线港口代表统计Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 29/Oct/2018			Unit: RMB／mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #43	Wk #42
Zhejiang	60% / TVN 130 (semi-defatted)	9,000	9,000
Zhejiang	65% / TVN 130 (semi-defatted)	11,000	11,000
Shandong	65% / TVN 80 (semi-defatted)	10,500	10,500
- The dealing price could be slowing down a little if the imported fishmeal remains downtrend.

White Fishmeal

Updated: 29/Oct/2018			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #43	Wk #42	Changes
American Seafoods	14,300	14,300	--
Russian WFM - 60% - high pro	11,800	11,800	--
- An indication only, prices ranges 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 #43	条款Terms
粗制水产级散装	Crude (Aqua grade) in Bulk	1500-1550	FOB PI
粗制水产级桶装	Crude (Aqua grade) in Drums	1550-1600	FOB FCL
粗制水产级液体袋装	Crude (Aqua grade) in Flexi tank	1650-1700	FOB FCL
粗制欧米茄3 桶装	Crude (Omega-3) in Drums	1750-1800	FOB FCL
注：FOB:秘鲁港口离岸价、FCL:集装箱装运。

FM Comments:

RMB Market: Before hearing any further progress at Peru’s new anchovy season, RMB cash trend would be remaining quietly weak, but RMB11,500/ton is to be measurably a short term bottom line.

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%	4,300	4,200~4,300	11 2018	+100
澳洲，散装／牛 Australia, beef Bulk	50%	4,400	4,400	11 2018	--
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: 22/Oct/2018				Unit: RMB/mt
China Soybean Meal Market Future Price Week #44
Contract Period	Today’s Price	1 weeks ago	2 week ago	3 weeks ago
January 2019	3,349	3,370	3,435	3,434
May 2019	2,861	2,908	2,928	2,924
September 2018	2,800	2,838	2,865	2,844