Marine ingredients market growth continues
Total cumulative productions of the countries considered in IFFO’s market report from January to May 2021 were higher year on year: fishmeal up by 48% and fish oil up by 51%.
The latest IFFO market intelligence report, which covers IFFO’s analysis on marine ingredient market trends, found that total cumulative productions of the countries considered in IFFO’s market report from January to May 2021 were higher year on year: fishmeal up by 48% and fish oil up by 51%. This growth has mostly been driven by a much-improved performance in Peru, with an earlier start of its first fishing season in the North-centre of the country. Aside from Peru, Chile and India were the only other countries to report a higher cumulative production over this same period.
In China, domestic production continues to rely on byproducts, with operations suspended at Shandong and Liaoning provinces and much subdued in Zhejiang province due to lack of byproducts. Imports of fishmeal, therefore, continue to increase in recent weeks with record-high levels of port stocks reported.
The demand for aquatic products in China has continued to rise in recent weeks, in turn supporting their prices. Aquafeed output has increased month on month, with the second shrimp fingerlings stocking starting in south China. Shrimp prices have been volatile in June due to fluctuations on the demand side.