IFFO’s analysis on marine ingredient market trends
January-September 2020
A taste of the many statistics and analyses that can be found in the market intelligence reports that IFFO dedicates to its members is reported below, covering IFFO’s analysis on marine ingredient market trends from January to September 2020. They include an analysis of both the supply and demand sides 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.
Marine ingredients output: September 2020 performance in line with the average of the previous 5 years
The lower-than-average landings in the USA were offset by the improved availability of raw material in all other regions analysed in the IFFO Monthly Report.
Total cumulative fishmeal production through September 2020 (including salmon-based meal) remained slightly down with respect to the previous year, at around 2,5%, with annual reductions in all regions bar Denmark/Norway and African countries.
Total cumulative fish oil production in the first 9 months of the year was also down by around 2.5%, driven by significant drops in the historically big fish oil-producing countries of Peru and the USA, plus India. India’s landings have rebounded since the imposition of a covid-19-related lockdown, reporting year-on-year improvements in all months since May.
China: fishmeal imports rebound as a consequence of the aquaculture’s peak season
As China is by far the main market for marine ingredients, a special focus is dedicated to this country with an“ad hoc” report.
In September, the peak season for fishmeal consumption, fishmeal imports rebounded significantly, with Peru taking the lion’s share. Based on the daily offtakes of fishmeal from ports’ warehouses, it appears clear that the peak season is coming to an end soon.
The North of China began to pause its aquaculture with the arrival of the autumn season, focusing now on pig farming. The South of China is expected to sell most of its seafood stock and is now preparing for the next season. Pig inventory continued to improve in September, with prices related to pig and pork decreasing as a consequence.
As for feed, pig feed output continued to improve in September, while aquatic feed output lost ground.