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27 Dec 2025

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Cash trend of China fishmeal has been keeping quietly flat at RMB17,000/ton at Shanghai port during the week while performance of fishmeal off-take has reduced by 25% before year-end holiday. Such reducing fishmeal consumptions could be seen as tentative condition, and it would be shortly soon recovered in a few weeks by replenishments for Chinese lunar New Year purpose.

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 #50	周数 Week #51	环比变化 Changes
大连 Dalian	SD68%超级	17,000	17,000	--
大连 Dalian	SD65%普通	14,000	14,000	--
天津 Tianjin	SD68%超级	17,000	17,000	--
天津 Tianjin	SD65%普通	14,000	14,000	--
上海 Shanghai	SD68%超级	17,000	17,000	--
上海 Shanghai	SD65%普通	14,000	14,000	--
黄埔 Huangpu	SD68%超级	17,000	17,000	--
黄埔 Huangpu	SD65%普通	14,000	14,000	--

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 #51			Wk #50
港口 Ports	本周 Current Stock	出库量 Off Take	入库量 Weekly Arrival	上周 Previous Stock
上海Shanghai	40,150	3,590	2,000	41,740
黄埔Huangpu	121,530	10,680	5,600	126,610
天津Tianjin	820	70	0	890
大连Dalian	3,770	560	100	4,230
其他Other	44,220	2,660	2,000	44,880
合计Total Qty	210,490	17,560	9,700	218,350
上周鱼粉出库量 Total FM sold/off-take from ports warehouse previous week:				22,880
来源: 饲料在线港口代表统计 Sources: CFO Port Agents

China Domestic Fishmeal

Updated: 22/Dec/2025			Unit: RMB/mt
国产鱼粉报价 Local Produced Fishmeal Price
Region	Quality	Wk #50	Wk #51
Zhejiang	63% / TVN 150 (semi-defatted)	13,600	13,600
Zhejiang	65% / TVN 150 (semi-defatted)	14,000	14,000
Shandong	65% / TVN 100 (semi-defatted)	13,800	13,800

White Fishmeal

Updated: 22/Dec/2025			Unit: RMB/mt
白鱼粉报价White Fishmeal Price Report
Brand/Origin	Wk #50	Wk #51	Changes
American Seafood	17,500-18,000	17,500-18,000	--
Russian WFM-60%-high pro	16,000-16,500	16,000-16,500	--
- An indication only, pricing range due to various quality, freshness and brand. - Above prices are importing duties paid.

Fish Oil:

Updated: 22/Dec/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	3,400-3,500	3,000-3,100
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	4,200-4,400	--

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 #50	周数 Wk #50	船期 Shipment	周变化 Changes
乌拉圭, 散装/牛 Uruguay, Beef Bulk	45-47%	4,300	4,300	02 2026	--
澳大利亚, 散装/牛 Australia, Beef Bulk	48%	4,300	4,300	01 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

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 #50	周数 Wk #51	船期 Shipment	周变化 Changes
美国, 袋装 USA, Bags	65%	8,600	8,600	02 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: 22/Dec/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	3,052	3,090	3,030	3,039
May 2026	2,741	2,758	2,778	2,835
Sep 2026	2,879	2,865	2,896	2,947