1. China Fishmeal Market Brief:

Don’t mention about RMB of China fishmeal lately due to uncertain fishery with its fishing ban announced by Peru not long ago, Chinese domestic produced FM which is mostly in terms of standard grade is also away from stability since Sept of 2014, and it still remains less catching with smaller size of species till end of current catching season.

That means there’s also a less validity of FM supply from China domestic producers and such decrement would be seen by reducing 70-80 k tons from a year earlier in total in Chinese key basements. Up to date, Chinese keeps only 80-90 k tons of supply capability.

+ China downstream:

China live pig is still away from track due to industrial reshaping and it would be strategically speeding up till May. During the process, baby pig breeding is also to be down or keeping flat status to make less FM consumption. CFO collects up below figures for your simply knowing downstream status within 4 years. (Unit by 10k tons)

2. China Fishmeal Stock & Off-take:

+ By 11 Jan, 2015, the entire validity kept at below four China main ports (Huangpu / Shanghai / Dalian / Tianjin) is about 38,000 tons and the weekly off-take is 4,900 tons.

+ At the same period, there’s 17,900 tons of fishmeal located at other southern secondary ports.

3. China Main Ports Fishmeal Movements:

+ Price Indicators and Forecasts (RMB/mt):

4. China Domestic Produced Fishmeal Markets: (RMB/mt)

+ Shandong:

+ Zhejiang:

5. Comments:

RMB trend has to be lowered to rational level to meet up with current slowing down breeding size. FM demand is generally slowing down and such high-rise RMB trend is helpless to backup baby pig breeding once this sector steps into gaining up stage from bottom after this May.   

Reporter: Charles Wang

Contact: cfo@chinafeedonline.com