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Peru's first 2024 north-central season began slowly, with about half of the 2.475 million-ton quota caught in 23 days, according to IFFO. Global fishmeal output in Q1 2024 fell about 27% year on year, and fish oil output fell 30%, largely due to timing of Peru's 2023 season.
China's fishing ban runs from May 1 to September.
Lower Q1 fishmeal and fish oil output supports prices, while the fast Peruvian catch pace adds supply later. The net effect leaves fishmeal prices balanced, with China's weak feed demand limiting upside.
thefishsite.comMay 10, 2024Not 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.
