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IFFO reports less marine raw material in the first half of 2021

Wednesday, August 4, 2021

The latest IFFO market intelligence report for January-June 2021, which covers IFFO’s analysis on marine ingredient market trends, found fewer raw materials on average in June 2021 vs June 2020. 

As expected, the total raw material in June 2021 was smaller than the tonnage reported in June 2020 by around 40%. This is mainly because the first fishing season in Peru in 2020 had its peak in June (as operations only started on May 13, 2020), although most of the regions analyzed in the IFFO Monthly Report indicate less raw material in June 2021 than in June 2020. The only exceptions were Chile and the African countries.

The total cumulative productions of the countries considered in this report during the first six months of 2021 were higher year on year. Peru, Chile and India were the only countries to report a higher cumulative production during the first six months of 2021 for the period January-June 2020.

China’s fishmeal production remains low, driving increased imports. Domestic fishmeal production between May and September relies only on byproducts, therefore volumes remain low. Fishmeal imports continue to grow, while stocks in the ports’ warehouses continue to fall thanks to the aquaculture consumption of marine ingredients. Typhoons have delayed the clearing of some cargos, keeping stocks at ports’ warehouses lower than expected.

Seafood demand and prices remain strong, although shrimp prices in July almost flattened due to high supply and low demand. Domestic aquafeed output continues to increase as China enters the peak of its aquaculture season.

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