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Rabobank's report 'Hooked on scarcity' warns aquaculture demand for fishmeal and fish oil is surging while marine ingredient supply stagnates. Climate shocks and El Niño are cited as sources of rising volatility.
Stagnant supply against rising aquafeed demand supports firmer fishmeal and fish oil prices and greater price swings.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.