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19 Dec 2025

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Cash trend of China fishmeal has been keeping steady position at the range of RMB17,000/ton at Shanghai port during the week. Though fishmeal consumption keeps regular scale in RMB market during November, cash trend remains itself at a relatively high level without any sign to decline from top. However, anchovy fishing is still under ideal progress at catching and it obviously makes cash trend upward when Chinese buyers intend to look for more procurements.

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 #46	周数 Week #47	环比变化 Changes
大连 Dalian	SD68%超级	17,000	17,000	--
大连 Dalian	SD65%普通	15,000	15,000	--
天津 Tianjin	SD68%超级	17,000	17,000	--
天津 Tianjin	SD65%普通	15,000	15,000	--
上海 Shanghai	SD68%超级	17,000	17,000	--
上海 Shanghai	SD65%普通	15,000	15,000	--
黄埔 Huangpu	SD68%超级	17,000	17,000
黄埔 Huangpu	SD65%普通	15,000	15,000

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 #47			Wk #46
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	46,570	5,070	4,400	47,240
黄埔Huangpu	133,330	14,590	14,000	133,920
天津Tianjin	1,100	140	400	840
大连Dalian	4,980	840	300	5,520
其他Other	45,730	2,710	2,200	46,240
合计Total Qty	231,710	23,350	21,300	233,760
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				25,530
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 24/Nov/2025			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #46	Wk #47
Zhejiang	63% / TVN 150 (semi-defatted)	13,800	13,800
Zhejiang	65% / TVN 150 (semi-defatted)	14,200	14,200
Shandong	65% / TVN 100 (semi-defatted)	14,000	14,000

White Fishmeal

Updated: 24/Nov/2025			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #46	Wk #47	Changes
American Seafood	17,000	17,000	--
Russian WFM-60%-high pro	16,000	16,000	--
- An indication only, pricing range due to various quality, freshness and brand. - Above prices are importing duties paid.

Fish Oil:

Updated: 24/Nov/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	3,500-3,600	3,000-3,500
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	4,000-4,200	--

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 #46	周数 Wk #47	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	4,100	4,100	12 2025 1 2026	--
澳大利亚, 散装/牛 Australia, Beef Bulk	48%	4,100	4,100	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

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 #46	周数 Wk #47	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	8,600	8,600	12 2025 1 2026	--
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: 24/Nov/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	3,011	3,043	3,063	3,026
May 2026	2,815	2,814	2,827	2,829
Sep 2026	2,924	2,930	2,942	2,949