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IFFO responded to an Oceana report published February 13, 2019 alleging that about 150,000 tonnes of Peruvian anchovy meant for direct human consumption were diverted into fishmeal production. IFFO condemned illegal activity and promoted its Responsible Supply certification scheme.
Diversion of anchoveta from the artisanal human-consumption chain into fishmeal adds supply to a tight fishmeal market, but the illegal volume is small relative to the 5 million tonne industrial quota, so price impact is limited and mainly reputational.
iffo.comFeb 21, 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.
