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20 Dec 2025

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Cash trend of China fishmeal has been keeping flat at RMB12,900/ton at Shanghai port during the week while Chinese have returned breeding activities after lunar New Year. Ports of Shanghai and Huangpu are already busy to unload fishmeal cargoes sent from 2^nd anchovy season, and thus total inventories would be apparently getting up to exceed 300k tons again during rest of Q1. Meanwhile, the depreciating currency of RMB would further influence China cash market if there’s a moving up tariffs for purchasing imported fishmeal.

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 Week06	周数 Week07	环比变化 Changes
大连 Dalian	SD68% 超级	12,800	12,900	+100
大连 Dalian	SD65%普通	10,200	10,400	+200
天津 Tianjin	SD68% 超级	12,800	12,900	+100
天津 Tianjin	SD65%普通	10,200	10,400	+200
上海 Shanghai	SD68% 超级	12,800	12,900	+100
上海 Shanghai	SD65%普通	10,200	10,400	+200
黄埔 Huangpu	SD68% 超级	12,800	12,900	+100
黄埔 Huangpu	SD65%普通	10,200	10,400	+200

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 Ports	Wk #07			Wk #06
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	51,140	5,570	11,000	45,710
黄埔Huangpu	141,430	13,130	15,000	139,560
天津 Tianjin	940	80	0	1,020
大连Dalian	6,260	1,560	800	7,020
其他Other	38,820	2,660	3,200	38,280
合计Total Qty	238,590	23,000	30,000	231,590
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				9,630
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 17/Feb/2025			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #06	Wk #07
Zhejiang	63% / TVN 150 (semi-defatted)	10,100	10,200
Zhejiang	65% / TVN 150 (semi-defatted)	11,200	11,300
Shandong	65% / TVN 100 (semi-defatted)	11,000	11,100

White Fishmeal

Updated: 17/Feb/2025			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #06	Wk #07	Changes
American Seafood	15,000-15,500	15,000-15,500	--
Russian WFM-60%-high pro	14,000-14,500	14,000-14,500	--
- An indication only, pricing range due to various quality, freshness and brand. - Above prices are importing duties paid.

Fish Oil:

Updated: 17/Feb/2025
鱼油离岸价格（美元/吨） Fish oil Market FOB Price (USD/mt)
品质包装 Quality/Packing		秘鲁Peru	智利Chile
粗制水产级散装	Crude (Aqua Grade) Tank	2,100-2,200	2,500-2,600
粗制水产级桶装	Crude (Aqua Grade) Drum	--	--
粗制水产级液体袋装	Crude (Aqua Grade) Flexi Tank	--	--
粗制欧米茄3 桶装	Omega 3: 28% EPA/DHA	--	--

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/包装 Origin/Packing	蛋白 Protein	周数 Wk #06	周数 Wk #07	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	4,300	4,500	03 04 2025	+200
澳大利亚, 散装/牛 Australia, Beef Bulk	48%	4,300	4,500	03 2025	+200
此价格每周更新非实盘仅供参考 Price is updated weekly just an indication for reference only

鸡肉粉参考价格（人民币/吨） Poultry Meal Price Ideas (RMB/mt)
产地/包装 Origin/Packing	蛋白 Protein	周数 Wk #06	周数 Wk #07	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	8,000-8,200	8,000-8,200	03 04 2025	--
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: 17/Feb/2025				Unit: RMB/mt
China Soybean Meal Future Market Price
Contract Period	Today Price	1 weeks ago	2 weeks ago	3 weeks ago
May 2025	2,849	2,899	2,932	2,822
Sep 2025	2,948	2,979	3,011	2,941
Jan 2026	2,992	3,021	3,066	3,004