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SeafoodSource reports IFFO data showing global fishmeal production up 36% year on year through March 2023. IFFO also says Chinese demand is lower, and the output gain reflects improved raw material availability and Peru's late season start.
Higher global supply combined with weaker Chinese demand points to softer fishmeal prices, although the Peru season timing could still change the picture.
savingseafood.orgJohn CookeMay 16, 2023Not 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.
