FOB prices of Peruvian CNF Fishmeal rebounded to US$ 1,900/tones as producer stood firm. Peru’s fish catch increased to 847,000 tonnes, fulfilling 78% of the season’s quota.
Market analysis
China’s fishmeal prices dropped significantly amid lukewarm demand resulting from low aquaculture production. Traders, who were eager to clear stocks, slashed prices in efforts to stimulate demand.
Price quotes for prime-grade products were mostly lower at RMB 12,000-12,100/tone.
Market forecast
Fishmeal market should remain stable in near term. Trader will be prudent.