# Marine Ingredients Market Trends (January 2024) | IFFO - The Marine Ingredients Organisation

> IFFO reported that Peru's second anchovy season in the North-Centre closed on 13 January 2024 with about 75% of its 1.682 million ton quota landed. Global fishmeal output for the first 11 months of 2023 fell about 16% year on year, mainly due to a 41% drop in Peru after the first season was cancelled.

- Date: 2024-01-12 · published 2024-01-12T12:00:00.000Z
- Category: report · region Peru · magnitude medium
- Page: https://feedsoft.ai/events/32207-marine-ingredients-market-trends-january-2024-iffo-the-marine-ingredients
- Commodities: [Fishmeal](https://feedsoft.ai/c/FISHMEAL.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Tighter fishmeal supply from Peru's weak season supports fishmeal prices, which lifts the cost of protein for feed buyers and supports substitute meals like soybean meal.

## Read by commodity

- SBM: bullish ▲
- FISHMEAL: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBM | 2022-04-15 | [April 2022 update on market trends \| IFFO - The Marine Ingredients Organisation](https://feedsoft.ai/events/41932-april-2022-update-on-market-trends-iffo-the-marine-ingredients-organisation.md) | -0.2% | -11.7% |
| SBM | 2022-01-17 | [Market Trends Report – January & February 2022 - Grain Farmers of Ontario](https://feedsoft.ai/events/11815-market-trends-report-january-and-february-2022-grain-farmers-of-ontario.md) | -9.7% | +3.3% |
| SBM | 2024-01-15 | [Latest trends in marine ingredients market following Peru's closure of anchovy fishing season - All Fish News](https://feedsoft.ai/events/32059-latest-trends-in-marine-ingredients-market-following-peru-s-closure-of-anchovy.md) | +1.1% | -1.2% |
| SBM | 2018-05-14 | [Market Trends Commentary for May-June 2018 - Grain Farmers of Ontario](https://feedsoft.ai/events/10236-market-trends-commentary-for-may-june-2018-grain-farmers-of-ontario.md) | -1.7% | -8.2% |
| SBM | 2020-11-10 | [Animal Feed Ingredient Market Information In China On November 11, 2020 - Industry news - News - Jiangsu Sinova Technologies Co., Ltd.](https://feedsoft.ai/events/50273-animal-feed-ingredient-market-information-in-china-on-november-11-2020-industry.md) | +1.4% | -0.6% |

## Sources

- iffo.com: https://www.iffo.com/marine-ingredients-market-trends-january-2024

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.