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Norway has not allocated any capelin for fishmeal production so far this season, and catches destined for fishmeal and fish oil through week 10 totaled 94,933 tonnes at an average price 44 percent below a year earlier. In China, fishmeal port inventories were around 180,000 tonnes at the start of week 10, and the Peruvian market was described as stable.
Weak Norwegian catch volumes and high Chinese inventories point to ample near-term fishmeal supply, which limits upside in prices even as Peru's output outlook weakens.
seafood.mediaMar 20, 2019Not 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.
