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IFFO reports global fishmeal production rose about 11% in 2020 and fish oil output rose 12%, despite reduced output from major producers such as Chile, the U.S. and India during COVID-19 shutdowns. Growth in Japan, Thailand, Russia, Morocco and Germany more than offset those declines, adding over 100,000 metric tons of fishmeal supply.
IFFO expects the upward trend to continue into 2021, with Peru seen as a key contributor.
Higher fishmeal and fish oil supply eases a tight protein ingredient market for feed compounders, which may cap fishmeal price strength. Peru's anchovy output recovery is the main swing factor for 2021 supply.
feedstrategy.comEmma PenrodMay 4, 2021Not enough comparable past events yet for a historical read.
After 250 past neutral report events, Soybean Meal moved a median -0.1% over 5 sessions (49% higher; middle half -1.6% to +1.7%), and +0.4% 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.
