Welcome to global CFO

29 Oct 2025

Sources:

CFO Exclusive

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

FISHMEAL SECTION

Cash market of China fishmeal has been slightly going down to RMB14,900/ton at Shanghai port during the week while there’s a reducing fishmeal off-take since holidays ended up previously. Fishmeal demands would be likely moving into a periodical off-season during November. However, fishmeal consumption with its related replenishment would expand as usual for year-end holiday demands. During the same period, total inventory of China fishmeal would be floating up and down at the level of 200k tons till further official notice for anchovy fishing.

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 #42	周数 Week #43	环比变化 Changes
大连 Dalian	SD68% 超级	15,000	14,900	-100
大连 Dalian	SD65%普通	13,000	12,900	-100
天津 Tianjin	SD68% 超级	15,000	14,900	-100
天津 Tianjin	SD65%普通	13,000	12,900	-100
上海 Shanghai	SD68% 超级	15,000	14,900	-100
上海 Shanghai	SD65%普通	13,000	12,900	-100
黄埔 Huangpu	SD68% 超级	15,000	14,900	-100
黄埔 Huangpu	SD65%普通	13,000	12,900	-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 #43			Wk #42
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	54,430	5,820	2,400	57,850
黄埔Huangpu	111,320	19,510	11,000	119,830
天津Tianjin	1,060	140	200	1,000
大连Dalian	6,310	1,240	1,400	6,150
其他Other	48,290	2,670	2,200	48,760
合计Total Qty	221,410	29,380	17,200	233,590
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				31,440
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 27/Oct/2025			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #42	Wk #43
Zhejiang	63% / TVN 150 (semi-defatted)	12,800	12,400
Zhejiang	65% / TVN 150 (semi-defatted)	13,300	13,000
Shandong	65% / TVN 100 (semi-defatted)	13,200	12,800

White Fishmeal

Updated: 27/Oct/2025			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #42	Wk #43	Changes
American Seafood	16,500	16,500	--
Russian WFM-60%-high pro	15,500	15,500	--
- An indication only, pricing range due to various quality, freshness and brand. - Above prices are importing duties paid.

Fish Oil:

Updated: 27/Oct/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	2,500-2,800	2,300-2,400
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	3,200-3,400	3,400-3,500

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 #42	周数 Wk #43	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	4,200	4,100	11 12 2025	-100
澳大利亚, 散装/牛 Australia, Beef Bulk	48%	4,200	4,100	11 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 #42	周数 Wk #43	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	8,600	8,600	11 12 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: 27/Oct/2025				Unit: RMB/mt
China Soybean Meal Future Market Price
Contract Period	Today Price	1 weeks ago	2 weeks ago	3 weeks ago
Jan 2026	2,932	2,895	2,932	--
May 2026	2,791	2,736	2,733	--
Sep 2026	2,903	2,853	2,858	--