Welcome to global CFO

28 Apr 2025

Sources:

CFO Exclusive

We (CFO) are pleased to update below China FEED market information for you:

FISHMEAL SECTION

Cash trend of China fishmeal has been slightly going down to RMB12,900/ton at Shanghai port during the week while there’s an apparent increment at total fishmeal inventory stockpiled at China main ports. As of CFO records, such increasingly fishmeal stockpiles at China ports would be keeping expansion but constantly exceeding 300k tons during Q2.

During the beginning stage of 1^st anchovy season, the reported fishing progress with its marine biomass shows this season would measurably permit sufficient fishmeal supply to the world and China since summer. However, Chinese buyers look forward to a slowing down cash trend in RMB to reduce capital risks at foreseeable high-rising fishmeal stockpiled at main ports.

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 Week16	周数 Week17	环比变化 Changes
大连 Dalian	SD68% 超级	13,000	12,900	-100
大连 Dalian	SD65%普通	11,000	10,900	-100
天津 Tianjin	SD68% 超级	13,000	12,900	-100
天津 Tianjin	SD65%普通	11,000	10,900	-100
上海 Shanghai	SD68% 超级	13,000	12,900	-100
上海 Shanghai	SD65%普通	11,000	10,900	-100
黄埔 Huangpu	SD68% 超级	13,000	12,900	-100
黄埔 Huangpu	SD65%普通	11,000	10,900	-100

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 #17			Wk #16
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	61,970	6,550	8,000	60,520
黄埔Huangpu	182,660	19,890	29,000	173,550
天津 Tianjin	1,890	210	0	2,100
大连Dalian	13,340	1,520	2,100	12,760
其他Other	43,850	2,690	3,700	42,840
合计Total Qty	303,710	30,860	42,800	291,770
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				28,440
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 28/Apr/2025			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #16	Wk #17
Zhejiang	63% / TVN 150 (semi-defatted)	10,700	10,500
Zhejiang	65% / TVN 150 (semi-defatted)	11,300	11,300
Shandong	65% / TVN 100 (semi-defatted)	11,300	11,100

White Fishmeal

Updated: 28/Apr/2025			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #16	Wk #17	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: 28/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 #16	周数 Wk #17	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	4,500	4,500	05 06 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 #16	周数 Wk #17	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	9,200	9,500	05 06 2025	+300
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: 28/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	2,870	2,897	2,958	2,885
Sep 2025	2,985	3,044	3,104	3,056
Jan 2026	3,019	3,061	3,089	3,024