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IFFO reports that raw material for fishmeal and fish oil was about 15% higher in February 2023 than a year earlier, and cumulative fishmeal output in the first two months of 2023 rose more than 55%. Fish oil output fell 20% over the same period, mainly from Iceland and the North Atlantic.
Peru's second North-Centre season closed on February 5 with 84% of its 2.283 million MT quota landed.
Much higher fishmeal output early in 2023 adds supply to feed markets, which is bearish for fishmeal prices, while lower fish oil supply is supportive for oils.
iffo.comApr 4, 2023Not enough comparable past events yet for a historical read.
After 149 past bullish report events, Palm Oil moved a median +0.5% over 5 sessions (57% higher; middle half -1.1% to +1.8%), and +0.8% over 20.
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.
