On August 18th, the agriculture, animal husbandry, and fishery sector demonstrated remarkable strength throughout the trading session. The market's pioneering agricultural and fishery ETF (159275) surged immediately after the opening bell, maintaining elevated levels through the afternoon. By market close, its on-exchange price had climbed 3.46%.
Within the constituent stocks, sectors including seed production, crop cultivation, and agricultural product processing witnessed a wave of limit-up moves. By the closing bell, Shenzhen Agricultural Power Group Co.,Ltd. had achieved a 20CM daily limit, while Xue Rong Bio surged over 16%. Additionally, 12 stocks including Tianbang Food, Dabeinong, Dunhuang Seed, and Jinjian Rice all hit their daily price ceilings.
On the news front, the El Ni帽o event is escalating price hike expectations for agricultural products. According to NOAA's August projections, the probability of a strong El Ni帽o occurring between October and December 2026 stands at 99%, with the likelihood of a super-strength event reaching 90%.
Institutional analysts point out that commodity price performance has historically varied during major El Ni帽o episodes. The planting and seed industries face direct disruption from global weather patterns, while the livestock sector may benefit in the short term from improved feed costs. For hog and white-feathered chicken farming operations, the typical decline in corn and soybean meal prices during El Ni帽o years helps reduce feed expenses and enhance farming profitability.
From a valuation perspective, the current price-to-book ratio of the agricultural and fishery sector remains at relatively depressed levels, potentially presenting an opportune window for allocation. Wind data reveals that as of August 17th's close, the CSI All-Share Agriculture, Animal Husbandry, and Fishery Index—tracked by the market's first agricultural and fishery ETF (159275)—had a price-to-book ratio of 2.2 times, positioning it at a low 5.1% percentile over the past five years. This underscores the sector's compelling medium-to-long-term investment value.
Where to Focus Investment Attention
Orient Securities expresses optimism across three key areas. First, the hog farming segment, where sustained medium-to-long-term price prosperity is anticipated, making improved earnings performance for pig enterprises likely. Second, the post-cycle sector, where structural industry growth trends persist, and with hog prices recovering, profits along the farming supply chain are expected to gradually transmit downstream. Third, the planting chain, where rising commodity prices have already filtered into agriculture. From a fundamental perspective of crop varieties, the upward trajectory of grain prices has been established, with favorable fundamentals for planting and seed industries, highlighting significant large-scale planting investment opportunities.
One-Click Access to the Full Agricultural and Fishery Value Chain
Attention is focused on the market's pioneering agricultural and fishery ETF (159275). According to China Securities Index Company statistics, this ETF passively tracks the CSI All-Share Agriculture, Animal Husbandry, and Fishery Index. Its heavyweight constituents include leading hog farming companies such as Muyuan Foods and Wens Foodstuff Group, while also covering key sub-sectors of the agricultural and fishery supply chain including feed, grain cultivation, and animal health products. For off-exchange investors, the agricultural and fishery ETF feeder funds (Class A: 013471, Class C: 013472) offer an alternative avenue for sector exposure.
Data sources: Wind, as of end-June 2026, with industry classifications based on Shenwan's tertiary industry categories. Chart and data sources: Shanghai and Shenzhen stock exchanges, as of August 18, 2026.
Important Considerations for Investors
Note: The designation of the market's first agricultural and fishery ETF (159275) refers to the first ETF tracking the CSI All-Share Agriculture, Animal Husbandry, and Fishery Index. When subscribing or redeeming fund shares, proxy brokers may charge commissions up to 0.5%, which includes fees levied by stock exchanges and registration institutions. The agricultural and fishery ETF does not charge sales service fees. For the feeder fund Class A, the subscription fee is 1% for amounts under 1 million yuan, 0.6% for amounts between 1 million and 2 million yuan, and a flat 1,000 yuan per transaction for amounts of 2 million yuan or more. The redemption fee is 1.5% for holding periods under 7 days, 0.5% for periods between 7 and 30 days, and 0% for periods of 30 days or longer. For Class C, the redemption fee is 1.5% for holding periods under 7 days and 0% for periods of 7 days or more, with a sales service fee of 0.3%.
Institutional views source: Orient Securities' August 16th weekly report on the agriculture, forestry, animal husbandry, and fishery industry, titled "Super El Ni帽o Confirmed, Distant Price Hike Expectations Intensify."
Risk Disclosure
The agricultural and fishery ETF passively tracks the CSI All-Share Agriculture, Animal Husbandry, and Fishery Index, which has a base date of December 31, 2004, and was officially published on December 12, 2016. The index's returns over the past five complete fiscal years were: 11.12% in 2025, -10.4% in 2024, -13.97% in 2023, -12.66% in 2022, and -3.99% in 2021. Its volatility rates over the same periods were: 13.21% in 2025, 29.88% in 2024, 14.39% in 2023, 26.34% in 2022, and 25.66% in 2021. The index's constituent stocks are adjusted periodically according to its compilation rules, and its backtested historical performance does not indicate future index performance. Companies mentioned in this article are presented solely as objective examples of index constituents and should not be construed as individual stock recommendations, nor do they represent the fund manager's or the fund's investment direction. Any information appearing herein (including but not limited to individual stocks, comments, forecasts, charts, indicators, theories, or any form of expression) is for reference only. Investors must bear responsibility for their own independent investment decisions. Furthermore, any views, analyses, or forecasts in this article do not constitute investment advice to readers of any form, and the fund manager assumes no liability for any direct or indirect losses resulting from the use of this content. Investors should carefully read fund legal documents such as the Fund Contract, Prospectus, and Fund Product Information Summary to understand the fund's risk-return characteristics and select products compatible with their own risk tolerance. Past fund performance does not predict future results, and the performance of other funds managed by the fund manager does not constitute a guarantee of this fund's performance. According to the fund manager's assessment, the agricultural and fishery ETF is rated R3-moderate risk, suitable for balanced (C3) and above investors. Please refer to the sales institution for suitability matching opinions. Sales institutions (including the fund manager's direct sales outlets and other sales channels) evaluate the risk of the aforementioned funds according to relevant laws and regulations. Investors should promptly pay attention to the suitability opinions issued by the fund manager. The suitability opinions of various sales institutions may not be consistent, and the fund product risk ratings issued by fund sales institutions must not be lower than the risk ratings determined by the fund manager. Differences exist between the risk-return characteristics stated in the Fund Contract and the fund's risk rating due to different factors considered. Investors should understand the fund's risk-return profile and carefully select fund products based on their own investment objectives, horizon, experience, and risk tolerance, bearing all risks themselves. The registration of the aforementioned funds with the China Securities Regulatory Commission does not imply that it makes a substantive judgment or guarantee on the fund's investment value, market prospects, or returns. Fund investment requires caution.