IFFO's Monthly Update constitutes a key communications tool for the marine ingredients industry and its main players. This report is dedicated to the needs of IFFO's members, bringing together industry news and insights from our diverse network.
The fish industry has always frightened many potential investors looking for that elusive balance of risk and reward. But perhaps the investment tide is turning. Fishmeal and fish oil have ready markets and returns have steadily risen over the last decade. As a sector, marine ingredients is becoming more attractive – companies like IFFO member Oceana of South Africa would not have invested in acquiring Daybrook Fisheries unless there was real value to be released in future. Readers of the Huffington Post may have seen an article by David Bank on June 18th titled “Investors Target Growing Demand for Healthy, Sustainable, Tasty Fish” (see page 8), mentioning how the fundamental long term appeal of responsibly sourced fish, whether farmed or wild, makes a good business case. In general, what is good for the aquaculture industry is good for our members so this positive outlook is welcome.Update - July 2015 - 271.pdf
The work of an association continues to change in line with its members evolving needs. IFFO has had different names and structures during its 50+ year history and delivered different services. If we are fortunate enough to be still serving members in another 50 years’ time, I am sure it will be different again. To remain relevant, retain existing members and attract new members an organisation needs a plan, needs to listen to member needs, anticipate them where possible and, most importantly, have a motivated, enthusiastic and versatile team to provide the service.Update - June 2015 - 270.pdf
Thank you to all those who joined us in Miami for our IFFO Members Meeting at the very glamorous The Edition Hotel. Great location on the beach although the supercars parked outside gave a clue that the bar prices could be a little on the high side. The event was our highest ever attendance in Miami and feedback we have had from the post meeting survey has been very good, apart from the bar prices! We are currently negotiating for our Miami 2016 venue with several hotels including The Edition and will announce the venue when we meet the IFFO Annual Conference in Berlin (28th – 30th September 2015). One of the most interesting presentations of the Meeting was the “Elusive El Niño” by Hector Soldi, a very understandable explanation of the competing factors that cause El Niño's and decide if they are weak or strong. There is certainly a huge amount of oceanographic and metereological information now available to help understand water temperature trends and we are investigating how we can include some basic indicators into the market reports we produce.Update - May 2015 - 269.pdf
In March, I had the opportunity to visit China to participate in the second IFFO/JCI conference on feed ingredients, this time held in Guangzhou. The conference was the largest ever held by JCI, drawing in over 850 delegates for the two days on agricultural and marine feed ingredients. Fishmeal and feed industries in China are consolidating and progressing, with fewer, larger enterprises being better invested and having higher standards than in the past.
As usual, the trip was an opportunity to refresh contacts with the key Chinese government departments. It was also a reminder that this key market is complex and evolving with central government implementing new policies that can take varying time to reach provincial level. Contrary to some beliefs, central government departments can be understaffed for the amount of regulation they are expected to administer, creating delays and frustration in processing approvals and permissions. The work of successive IFFO Director Generals and China Directors in building local government relationships means IFFO are in the fortunate position of having access to central government and are able to put forward information for consideration by the administrators. We at all times respect the government's’ authority and right to regulate as they see fit but having the opportunity to participate in discussions like the revision of the China Fishmeal Standard is a valuable benefit to our members.
Social media is all around us and part of online daily life. Facebook and other sites started a revolution in sharing information, sometimes a bit too much but usually in a helpful way. As an organisation, IFFO is always looking for ways to improve our services to members and we have just launched an IFFO Members Group on LinkedIn, a more business orientated platform than Facebook and needing less administrative support from our team. More details are in the article later but we wanted to see if this group offered members a useful forum or platform to exchange ideas, discuss matters of interest or ask for help. To get things started, I have posted some suggestions for debate about the use of Land Animal Proteins in farmed animal feeds and how our industry should combat falling fishmeal inclusion levels in feed. Please join in, post comments on existing discussions or start one of your own...Update - March 2015 - 267.pdf