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The Thai Fishmeal Producers Association is objecting to a Department of Fisheries proposal to cut import duties on feed ingredients, which it says could push the domestic industry toward bankruptcy. The association says fishmeal prices are at a five-year low and that Thai imports rose 11.66% year-on-year in January to April.
A meeting on the proposal is scheduled for June 30.
Lower duties on fishmeal would increase imported supply into Thailand and could pressure domestic fishmeal prices further, which matters for feed buyers sourcing marine proteins. The outcome of the June 30 meeting is the key near-term price catalyst.
tridge.comAgriJun 21, 2020Not 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.
