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16 Jun 2025

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Cash trend of China fishmeal has been keeping steady at RMB13,000/ton at Shanghai port during the week while IMARPE has newly announced fishing quota with validity since April 22. The newly reported 3 million tons of anchovy fishing would be starting up soon after a 3-day-long Eureka fishing. And, such reportedly fishing quota would be seen as a higher-than-estimated result that may supply sufficient fishmeal products to the world and China since summer. And, thus, CFO measures total inventory of China fishmeal stockpiled at main ports would be mostly showing above 300k tons during rest days of 2025.

However, cash trend of China fishmeal would be shortly steady though there’re certain amounts of cargoes shipped out from the US are mainly specific white fishmeal products where would be hardly substituted for quality. Besides it, products of the US soybean meal and poultry meal could be appropriately replaced by other resources or formulations.

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 Week15	周数 Week16	环比变化 Changes
大连 Dalian	SD68% 超级	13,000	13,000	--
大连 Dalian	SD65%普通	11,000	11,000	--
天津 Tianjin	SD68% 超级	13,000	13,000	--
天津 Tianjin	SD65%普通	11,000	11,000	--
上海 Shanghai	SD68% 超级	13,000	13,000	--
上海 Shanghai	SD65%普通	11,000	11,000	--
黄埔 Huangpu	SD68% 超级	13,000	13,000	--
黄埔 Huangpu	SD65%普通	11,000	11,000	--

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 #16			Wk #15
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	60,520	6,410	7,000	59,930
黄埔Huangpu	173,550	17,660	17,000	174,210
天津 Tianjin	2,100	200	0	2,300
大连Dalian	12,760	1,490	3,000	11,250
其他Other	42,840	2,680	3,200	42,320
合计Total Qty	291,770	28,440	30,200	290,010
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				22,730
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 21/Apr/2025			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #15	Wk #16
Zhejiang	63% / TVN 150 (semi-defatted)	10,700	10,700
Zhejiang	65% / TVN 150 (semi-defatted)	11,300	11,300
Shandong	65% / TVN 100 (semi-defatted)	11,300	11,300

White Fishmeal

Updated: 21/Apr/2025			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #15	Wk #16	Changes
American Seafood	15,000	15,000	--
Russian WFM-60%-high pro	13,500-14,000	13,500-14,000	--
- An indication only, pricing range due to various quality, freshness and brand. - Above prices are importing duties paid.

Fish Oil:

Updated: 21/Apr/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	3,200-3,300	--

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 #15	周数 Wk #16	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	4,500	4,500	05 2025	--
澳大利亚, 散装/牛 Australia, Beef Bulk	48%	4,500	4,500	05 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

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 #15	周数 Wk #16	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	9,000	9,200	05 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

Soybean Meal

Updated: 21/Apr/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	2,897	2,958	2,885	2,851
Sep 2025	3,044	3,104	3,056	2,989
Jan 2026	3,061	3,089	3,024	2,978