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31 Jul 2025

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Cash trend of China fishmeal has been going up to RMB13,500/ton at Shanghai port during the week while there’s a reducing inventory of China fishmeal stockpiled at ports. As of CFO records, fishmeal off-take from main ports has been constantly showing expansion for weeks, and it has made uptrend more or less for weeks in RMB cash market. However, fishmeal cargoes shipped from 1^st anchovy season have gradually approached China ports and that may soon shortly top up total inventory to ease such uptrend. Though IMARPE has made an earlier completion for fishing anchovy at the date of July 24, the reported 80% of fishing achievement is still big enough to make more accumulations at China ports in a short term.

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 #29	周数 Week #30	环比变化 Changes
大连 Dalian	SD68% 超级	13,300	13,500	+200
大连 Dalian	SD65%普通	11,200	11,300	+100
天津 Tianjin	SD68% 超级	13,300	13,500	+200
天津 Tianjin	SD65%普通	11,200	11,300	+100
上海 Shanghai	SD68% 超级	13,300	13,500	+200
上海 Shanghai	SD65%普通	11,200	11,300	+100
黄埔 Huangpu	SD68% 超级	13,300	13,500	+200
黄埔 Huangpu	SD65%普通	11,200	11,300	+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 #30			Wk #29
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	67,930	7,090	7,000	68,020
黄埔Huangpu	155,030	24,260	21,000	158,290
天津Tianjin	1,050	760	100	1,710
大连Dalian	11,020	1,250	1,200	11,070
其他Other	48,240	2,680	3,300	47,620
合计Total Qty	283,270	36,040	32,600	286,710
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				36,050
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 28/Jul/2025			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #29	Wk #30
Zhejiang	63% / TVN 150 (semi-defatted)	10,300	10,300
Zhejiang	65% / TVN 150 (semi-defatted)	10,900	10,900
Shandong	65% / TVN 100 (semi-defatted)	10,900	10,900

White Fishmeal

Updated: 28/Jul/2025			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #29	Wk #30	Changes
American Seafood	16,300-16,500	16,300-16,500	--
Russian WFM-60%-high pro	15,000	15,000	--
- An indication only, pricing range due to various quality, freshness and brand. - Above prices are importing duties paid.

Fish Oil:

Updated: 28/Jul/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	2,100-2,200
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	3,000-3,500	3,100-3,300

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 #29	周数 Wk #30	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	4,300	4,100	08 09 2025	-200
澳大利亚, 散装/牛 Australia, Beef Bulk	48%	4,300	4,100	08 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 #29	周数 Wk #30	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	7,300-7,600	7,300-7,600	08 09 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: 28/Jul/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	2,990	3,069	2,992	2,937
Jan 2026	3,041	3,087	3,024	2,992
May 2026	2,751	2,752	2,703	2,706