The Marine Ingredients Organisation (IFFO) has released its latest analysis of marine ingredient market trends showing a 40% drop in use in June 2021 compared to the previous year.
The report analyses both supply and demand along with research into the global trends of animal farming, fish catches and agri-commodities. A specific and additional focus is made on China for the period covering January to June 2021 as China is by far the main market for marine ingredients.
Total raw material in June 2021 was smaller than the tonnage reported in June 2020 by around 40%. This is mainly because the first fishing season in Peru in 2020 had its peak in June although most of the regions analysed indicate less raw material in June 2021 than in June 2020. The only exceptions were Chile and the African countries.
The total cumulative productions of the countries considered in this report during the first six months of 2021 were higher year on year. Peru, Chile and India were the only countries to report a higher cumulative production during the first six months of 2021 with respect to the period January to June 2020.
China
Chinese fishmeal production between May and September relies only on by-products, therefore volumes remain low, driving increased imports. Stocks in ports’ warehouses are falling through use and because typhoons have delayed the clearing of cargo.
Seafood demand and prices remain strong, although shrimp prices in July almost flattened due to high supply and low demand. Domestic aquafeed output continues to increase as China enters into the peak of its aquaculture season.
