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IFFO says fishmeal production is set for a better year as Peru eases fishing restrictions imposed last year to protect fisheries. Fish oil output is still lagging, and weak Chinese demand could reduce overall feed ingredient consumption.
Fishmeal prices are expected to normalize as El Nino wanes.
Higher Peruvian catch quotas add supply to a market that was tight in early 2024, which should ease fishmeal prices. Weak Chinese demand adds further downside pressure.
feedstrategy.comEmma PenrodMay 16, 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.
