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1) Weekly Report (Wk # 46)
	- Fishmeal Inventory at port is 170,340 mt 
	- Weekly off take 16,990 mt
	- Weekly arrival 32,500 mt
	Full report, please click below link CFO China Feed Market Weekly Update #46/2023
	
	2) Today’s Price Indication (22 November 2023)
| 
				 Products  | 
			
				 Origin  | 
			
				 Quality  | 
			
				 RMB/mt  | 
		
| 
				 SBM  | 
			
				 China  | 
			
				 43%  | 
			
				 4,170  | 
		
| 
				 Canola Meal  | 
			
				 China  | 
			
				 36%  | 
			
				 3,050  | 
		
| 
				 DDGS  | 
			
				 USA  | 
			
				 26/28%  | 
			
				 2,550  | 
		
| 
				 Fishmeal  | 
			
				 Peru  | 
			
				 Super  | 
			
				 17,500-17,900  | 
		
| 
				 Fishmeal  | 
			
				 China  | 
			
				 63/150  | 
			
				 11,500  | 
		
| 
				 MBM  | 
			
				 Uruguay/Argentina  | 
			
				 Beef 45%  | 
			
				 5,000  | 
		
| 
				 MBM  | 
			
				 Australia  | 
			
				 Beef 48%  | 
			
				 5,000  | 
		
| 
				 PBM  | 
			
				 USA  | 
			
				 65%  | 
			
				 8,500  | 
		
	3) Importing Statistics / October 2023
	Major importing items including Fishmeal, Fish oil, MBM, PBM, Soybean, Canola Meal.
	Please click here [CFO Statistics Page] to take a look.
	
	4) China Feed Production October 2023
| 
				 item  | 
			
				 Total  | 
			
				 Compound  | 
			
				 Concentrate  | 
			
				 Additive  | 
		
| 
				 October 2023 (10,000 ton)  | 
			
				 2,762  | 
			
				 2,574  | 
			
				 113  | 
			
				 60  | 
		
| 
				 +/- compare with Sep 2023 (%)  | 
			
				 -2.0  | 
			
				 -1.7  | 
			
				 -5.3  | 
			
				 -9.5  | 
		
| 
				 +/- compare with Jan to Oct 2022 (%)  | 
			
				 -0.5  | 
			
				 0.0  | 
			
				 -13.5  | 
			
				 +0.7  | 
		
| 
				 Total Jan-Oct 2023 (10,000 ton)  | 
			
				 26,026  | 
			
				 24,186  | 
			
				 1,147  | 
			
				 583  | 
		
| 
				 +/- Cumulative Jan-Oct yr-on-yr %  | 
			
				 +7.8  | 
			
				 +8.0  | 
			
				 -1.1  | 
			
				 +16.8  | 
		
	Today Comments:
	Soybean Meal: Continued losses in pig and broiler farming, SBM is keeping weak in demand.
	Fishmeal: Importing fishmeal of standard grade RMB selling price is adjusted lower for about RMB 300/mt at about RMB 14700-15600/mt level. As for China local produced fishmeal RMB prices are also declining at about RMB 500/mt. Per our investigation, 63% protein with TVN 150 is offered at RMB 11,500/mt. This time adjustment mainly is from weak demand. Foresee the fishmeal cash market in China is continuing weak.
	Animal Protein: At present, most of PBM Chinese importers facing a severe losses and some are up to RMB2,000/mt. It is hard to move cargo under the weak demand. 
	Remark: 
	This is a gentle reminder, for MOA China license renewal, the application should be submitted to Beijing 6 months prior to expire, please contact CFO License Center earlier .  
	
	Any queries, please email: license@21cfo.com
	
	 
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