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

FISHMEAL SECTION

RMB Cash Market:

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

FISHMEAL SECTION

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.

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

FISHMEAL SECTION

Cash trend of China fishmeal has been keeping firm at RMB17,000/ton at Shanghai port during the week while fishmeal off-take remains steady in general. However, fishmeal consumptions would be soon measurably going up due to live pig industry. Domestic authorities measure, since later part of December or earlier of next Jan, fishmeal consumptions could be growing up brought by live pig industry as usual.

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

FISHMEAL SECTION