The performance of the global marine ingredient market for July 2020 remains well above the 2011 to 2019 average for the same month, according to a recent report by the Marine Ingredients Organisation, the IFFO.
The IFFO analyses both the supply and demand of the market, with research focusing on the global trends of animal farming and fish catches, agri-commodities, commodities’ prices and general macro-economic conditions.
Year on year, the total raw material in July was more than 40% higher, mainly thanks to the positive performances of Peru and the African countries which IFFO analyses, although the Iceland/North Atlantic area and India also reported improved performances.
Total cumulative fishmeal production further caught up with respect to the previous year, and was estimated to be down by just 2% whilst total cumulative fish oil production was also down (by 4%), with significant drops in Peru, India, Iceland and the USA. Significant improvements, however, continue to be reported in the African countries’ oil output, with the Denmark/Norway region also reporting a clear rebound from 2019.
China: Market demand improved recently
Special focus is given to China through an ad hoc report as the country is by far the main market for marine ingredients. Demand for fishmeal seasonally improved recently and domestic supply of shrimp remains tight, while a sharp reduction of shrimp imports from Ecuador is being reported. Prices rose recently, although they remain well below last year’s levels due to Covid-19 related issues.
