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The IFFO annual conference market forum reported that Asia consumes over 70% of global fishmeal and that Peru remains the main producer and exporter. IFFO's forecast put 2019 global fish oil output at 921,000 tonnes, higher than expected due to a larger Peruvian anchovy quota.
Chinese pig-sector fishmeal demand is expected to fall in 2019 because of African swine fever.
Higher-than-expected fish oil output adds supply, while weaker Chinese pig-sector demand from ASF reduces fishmeal consumption, both pointing to softer marine ingredient prices.
iffo.comNov 6, 2019Not enough comparable past events yet for a historical read.
After 114 past neutral report events, Soybean Oil moved a median +0.1% over 5 sessions (52% higher; middle half -1.7% to +1.4%), and +0.5% 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.
