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Norway's fish reduction catch for the period through week 36 was 550,311 tonnes, down 19% year on year, at an average price of NOK 2.85/kg. Chinese fishmeal inventories were about 290,000 tonnes at the start of week 37, and Chinese port prices for FAQ 65% meal fell to RMB 9,500/t from RMB 9,650/t.
Peruvian fishmeal prices also fell by about USD 50/t amid high Chinese stocks.
Heavy Chinese inventories and softer port prices point to weaker fishmeal values, while lower Norwegian catches offer limited support. Buyers should expect continued pressure on fishmeal prices while stocks remain high.
seafood.mediaSep 13, 2019Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
