China Market Update : August 26, 2015
China shrimp raw material prices have stabilized. Prices have dropped 20% from same period last year. 100 pcs/kg headon currently RMB 26/kg Vs RMB 35/kg last year. We expect raw material prices to move up in October as season winds down and product booked for Chinese New Year sales.
China Tilapia raw material price has increased from RMB 7.00/KG 2 months ago to RMB 8.80/KG today. Price increase is a result of less production due to farmers reducing their seeding due to low prices.
We expect tilapia raw material to be in the range of RMB 8.20-8.60 over the next 3 months.