IFFO, The Marine Ingredients Organisation, today released its second Annual Report, giving a succinct overview of the group’s work with the aim to engage and inform stakeholders. IFFO enjoyed another fruitful year with a continued growth in membership, over 1,082 delegates attending 5 IFFO hosted events, 90 market reports published, and a series of technical projects completed. The report takes readers through IFFO’s various technical projects, events, market reporting and governance. A key area highlighted throughout this report is IFFO’s increased investment and focus on data gathering and technical reports, with the aim of effectively communicating the strategic and vital role of marine ingredients. In order to increase and speed up technical projects, the IFFO Board developed a new process for commissioning projects and increased investments.
If anyone wanted to write a book about a global trade and the constant changes that happen to those involved, the fishmeal and fish oil industry would be great case study. It has always been an international business but, within the lifetime of those still working in the industry, the uses are completely different, the markets have become worldwide and the prices obtained have tripled. “Business as Usual” involves understanding continually changing factors including global agricultural commodity markets, currencies and weather patterns.
As if this was not enough, eCommerce has moved the rate of change up a gear, with new channels and distribution options available to producers and more delivery choices and information on the products available to consumers. A presentation on developments within the Alibaba group at the April 2018 Brussels Seafood Expo showed just what is already possible and it’s good news for aquaculture and therefore the marine ingredients industry. The Chinese population is growing, their disposable income increasing and their appetite for fish exceeds many other markets. The sources of wild caught fish in China are very limited so it’s aquaculture that will benefit from eCommerce making seafood more available.