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02 Aug 2025

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Cash trend of China fishmeal has been keeping flat at RMB12,600/ton at Shanghai port during the week while fishmeal off-take has shown certain expansion from previous 25k tons up to 32k tons in average per week. Though summer breeding has already started up especially in southern farms, total fishmeal inventory stockpiled at China ports remains increment to ease or reduce RMB cash trend in general.

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 Week #20	周数 Week #21	环比变化 Changes
大连 Dalian	SD68% 超级	12,700	12,700	--
大连 Dalian	SD65%普通	10,700	10,600	- 100
天津 Tianjin	SD68% 超级	12,700	12,700	--
天津 Tianjin	SD65%普通	10,700	10,600	- 100
上海 Shanghai	SD68% 超级	12,600	12,600	--
上海 Shanghai	SD65%普通	10,700	10,600	- 100
黄埔 Huangpu	SD68% 超级	12,600	12,600	--
黄埔 Huangpu	SD65%普通	10,700	10,600	- 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 #21			Wk #20
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	68,940	6,750	7,000	68,690
黄埔Huangpu	185,850	21,900	23,500	184,250
天津 Tianjin	2,320	140	600	1,860
大连Dalian	13,930	1,280	1,500	13,710
其他Other	45,950	2,700	3,200	45,450
合计Total Qty	316,990	32,770	35,800	313,960
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				30,850
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 26/May/2025			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #20	Wk #21
Zhejiang	63% / TVN 150 (semi-defatted)	10,200	10,200
Zhejiang	65% / TVN 150 (semi-defatted)	11,000	11,000
Shandong	65% / TVN 100 (semi-defatted)	11,000	11,000

White Fishmeal

Updated: 26/May/2025			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #20	Wk #21	Changes
American Seafood	15,000	16,500	+1,500
Russian WFM-60%-high pro	13,500-14,000	15,000	+1,000~1,500
- An indication only, pricing range due to various quality, freshness and brand. - Above prices are importing duties paid.

Fish Oil:

Updated: 26/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	2,500-2,600	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	3,500-3,600	--

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 #20	周数 Wk #21	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	4,500	4,400	06 2025	- 100
澳大利亚, 散装/牛 Australia, Beef Bulk	48%	4,500	4,400	06 2025	- 100
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 #20	周数 Wk #21	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	9,500	9,200	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: 26/May/2025				Unit: RMB/mt
China Soybean Meal Future Market Price
Contract Period	Today Price	1 weeks ago	2 weeks ago	3 weeks ago
Sep 2025	2,950	2,886	2,908	2,915
Jan 2026	3,002	2,949	2,948	2,964
May 2026	2,709	2,727	--	--