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Tridge reports that Vietnam has become China's second-largest fishmeal supplier, with Chinese fishmeal imports projected to fall 9% to 1.65 million tonnes in 2023. Imports from Peru dropped 51% due to El Niño, while purchases from Russia, Thailand and India rose.
China is diversifying fishmeal sourcing away from Peru, which shifts trade flows but reflects tight Peruvian supply that supports global fishmeal prices.
tridge.comMar 5, 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.
