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IFFO data show cumulative global fishmeal production rose nearly 16% year on year through November 2024, driven by Peru's larger supply. Fish oil output rose about 3%, and China's 2024 fishmeal usage rebounded.
Higher fishmeal supply from Peru offsets lower output elsewhere, which is bearish for fishmeal prices, though China's stronger demand provides some support.
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.