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IFFO reports that cumulative fishmeal production in the first eight months of 2021 rose 6.5% and fish oil rose 12% year on year. Peru, Chile and India were the only countries posting higher fishmeal output.
China lifted its marine fishing bans at the end of September, and imported fishmeal stocks in port warehouses remain historically high.
Higher production and high port inventories add supply, while healthy demand limits downside. The net effect is mildly bearish for fishmeal prices.
aquafeed.comAquafeed Media SLUOct 14, 2021Not 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.
