2018 Market Research Works
Market research: an evidence-based approach
In 2018, IFFO continued its commitment to provide independent market information to its membership, aware as we are of the fact that members need reliable facts and figures in their day-to-day decision-making process. Various channels of dissemination are used to circulate analyses and data such reports, presentations and infographics.
IFFO’s members represent more than 50% of the total world production and between 75% and 80% of the total annual trade worldwide. Such extensive network of companies provides us with a constant and reliable flow of data on production, trade and prices, in addition to immediate updates on events potentially affecting the industry’s performance around the globe.
Close working relationships with various international bodies and governmental departments (such as the UN FAO; the China Fishery Society and the Chinese network of ports; the USA National Oceanic and Atmospheric Administration; the Faroese Fishery Department) enable IFFO to gain access to otherwise unavailable information and update our readers on the local quotas’ fulfilment. IFFO teams also draw on second-hand sources that gather and trade information in return for a subscription or a fee, centralising and thus diluting the cost of such data for our members. Prices of farmed animals or agri-commodities fall in this category.
In 2018, production and/or trade annual data for 77 countries were collected; monthly data for 11 countries and weekly data for around 8 countries. These data were used to produce 52 weekly reports (in English, Spanish and Chinese) and 12 monthly reports. In addition 10 monthly China Market Outlook reports were issued, plus a Statistical Yearbook with information on marine ingredients, agri-commodities and animal farming worldwide.
With the latest data purchases from Global Trade Atlas we are now capable of reporting trade statistics of fishmeal and fish oil for the following 50 countries and regions: Argentina, Australia, Belgium-Lux, Brazil, Canada, Chile, China, Colombia, Denmark, Egypt, France, Georgia, Germany, Greece, Iceland, India, Indonesia, Iran, Ireland, Israel, Italy, Japan, Kazakhstan, Malaysia, Mexico, Morocco, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Peru, Philippines, Russia, South Korea, South Africa, Saudi Arabia, Senegal, Spain, Switzerland, Taiwan, Thailand, Total, Turkey, U.K, U.S.A, Ukraine, Uruguay, Vietnam.
In 2018, the department of market intelligence prepared and gave several presentations to different audiences on the latest global trends in the fishmeal and fish oil markets. The new data collected are always presented first to the IFFO members during our recurrent Members’ Meetings and Annual Conferences. What makes such presentations unique is the fact that on one hand they provide the only thorough investigation on the global production, country by country, for the previous year; on the other hand they offer a projection of what people familiar with the industry expect in terms of production for the months ahead.
Ad hoc queries
Around 50 individual requests for data and market analyses were received in 2018, some of which asked for a full replica of the IFFO database on monthly and/or annual production by country. Three members also asked for a series of conference calls in which the IFFO’s reports and data collection process could be explained to their market analysis teams.
A scientific paper called “Global sustainability of fishmeal and fish oil under contrasting climate and socio-economic scenarios” was submitted to the Global Environmental Change journal, a peer-reviewed international journal publishing high quality, theoretically and empirically rigorous articles, and aiming at advancing knowledge about the human and policy dimensions of global environmental change. IFFO has been involved in this project as an external consultant and has also been asked to provide some historical data on production and prices. The paper highlights how a responsible management of the reduction fisheries will help smooth the impact of the expected global warming in terms of supply and price fluctuations.
The paper is co-authored by IFFO and by academics from the University of Plymouth (United Kingdom); the Institut de Recherche et Développement, in Sète (France); AZTI, Herrera Kaia, in Pasaia (Spain); and from the UN FAO in Rome (Italy).