The sharp rise in soybean meal prices has boosted the price of aquatic feed, while the demand for southern shrimp in China has been sluggish recently

Since January of this year, many aquatic feed companies in southern China have lowered their prices due to a significant decline in raw material prices. However, due to the sharp rise in spot soybean meal prices before and after the Spring Festival, the prices of related plant proteins have also increased accordingly. According to JCI information, as of February 20, 2025, the average spot price of soybean meal in China has increased by 26.96% compared to January 9; The average spot price of rapeseed meal has increased by 23.22% compared to January 9th; The average spot price of cottonseed meal has increased by 18.23% compared to January 9th; The average spot price of peanut meal has increased by 18.12% compared to January 9th; The average spot price of super steam fish meal has decreased by 0.76% compared to January 9th, while the average spot price of ordinary grade fish meal has increased by 0.71% compared to January 9th (see table below for details). Affected by this, many feed companies in China have taken the lead in raising the prices of livestock and poultry feed after the Spring Festival. Recently, some South China aquatic feed companies have announced an increase in their aquatic feed prices, with an increase of 150-200 yuan/ton (including puffed fish feed and submerged fish feed, etc.).
On the other hand, boosted by the Spring Festival holiday effect, shrimp prices in southern China have seen a slight increase at one point. However, in recent times, with the fading of the festive atmosphere and a decrease in consumption, prices have also fallen. According to JCI information, the current price of 40 shrimp per kilogram in Zhuhai, Guangdong, China is around 15 yuan per kilogram, a decrease of about 2 yuan per kilogram from last week; The price of 40 shrimp per kilogram in Guangxi is around 14 yuan per kilogram, a decrease of 1 yuan per kilogram from last week; The price of 40 shrimp per kilogram in Fujian region is around 14 yuan per kilogram, a decrease of 2 yuan per kilogram compared to last week,
Overall, due to the surge in spot soybean meal prices and the year-on-year increase in related plant protein prices, after many feed companies raised their livestock and poultry feed prices, some feed companies in southern China have recently started to raise their aquatic feed prices. If the prices of soybean meal and other related protein raw materials remain high and firm, the prices of aquatic feed may further rise in the later stage. In addition, for the shrimp market in China, the boost in benefits from the Spring Festival holiday has passed, and shrimp consumption has been lackluster. However, the amount of shrimp stored in ponds is also not high. Many industry insiders have expectations for consumption before and after the Qingming Festival, which is worth paying attention to in the industry.