IFFO reports improved availability of marine raw materials in November 2020
Monday, January 18, 2021
The latest IFFO report analyzed marine ingredient market trends from January to November 2020.
In November 2020, the overall performance of the countries analyzed by IFFO was above the 2011- 2019 average for the same month. All regions, bar Chile, Denmark and Norway reported an improvement in terms of available raw material in November 2020 with respect to November 2019.
Total cumulative fishmeal production through November 2020 (including salmon-based meal) remained slightly down compared to the previous year (-0,7%), with annual reductions in all regions bar Peru, Denmark / Norway and African countries.
The total cumulative fish oil production in the first 11 months of the year 2020 was in line with that reported during the same period in 2019, with the drops reported in Peru, USA and India offset by improved outputs in all the other areas under consideration in our analysis. India’s landings have continued to rebound since the imposition of a COVID-19-related lockdown, reporting year-on-year improvements in all months since then.
In China, fishmeal imports seasonally dropped while consumption remains subdued. In November, the average price of aquatic products dropped month on month, while the trading volume slightly climbed year-on-year. Shrimp imports are not expected to be as high as in 2019, following the reduced demand expressed by COVID-19-stricken food service.
The market intelligence reports cover IFFO analysis on marine ingredient market trends. They include an analysis of both the supply and demand side of the market, with research focusing also on the global trends of animal farming and fish catches, agri-commodities, commodities’ prices and general macro-economic conditions. A specific and additional focus is made on China given that the country is by far the main market for marine ingredients.
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