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20 Dec 2025

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Cash trend of China fishmeal has been keeping a slightly downtrend by reducing RMB100/ton at all main ports. In accordance with current high-rising fishmeal inventory stockpiled at China ports, RMB cash trend would further go down below RMB12,800/ton at Shanghai port. However, as of current fishing performance, that could be a sign permits sufficient fishmeal supply with a bit lower cash trend through summer.

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 Week17	周数 Week18	环比变化 Changes
大连 Dalian	SD68% 超级	12,900	12,800	-100
大连 Dalian	SD65%普通	10,900	10,800	-100
天津 Tianjin	SD68% 超级	12,900	12,800	-100
天津 Tianjin	SD65%普通	10,900	10,800	-100
上海 Shanghai	SD68% 超级	12,900	12,800	-100
上海 Shanghai	SD65%普通	10,900	10,800	-100
黄埔 Huangpu	SD68% 超级	12,900	12,800	-100
黄埔 Huangpu	SD65%普通	10,900	10,800	-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 #18			Wk #17
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	64,910	7,060	10,000	61,970
黄埔Huangpu	184,620	20,040	22,000	182,660
天津 Tianjin	1,650	240	0	1,890
大连Dalian	13,740	1,700	2,100	13,340
其他Other	44,610	3,040	3,800	43,850
合计Total Qty	309,530	32,080	37,900	303,710
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				30,860
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 06/May/2025			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #17	Wk #18
Zhejiang	63% / TVN 150 (semi-defatted)	10,500	10,500
Zhejiang	65% / TVN 150 (semi-defatted)	11,300	11,300
Shandong	65% / TVN 100 (semi-defatted)	11,100	11,100

White Fishmeal

Updated: 06/May/2025			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #17	Wk #18	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: 06/May/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 #17	周数 Wk #18	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 06 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 #17	周数 Wk #18	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	9,500	9,500	05 06 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: 06/May/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	2,748	2,897	2,958	2,885
Sep 2025	2,915	3,044	3,104	3,056
Jan 2026	2,964	3,061	3,089	3,024