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EUMOFA reports that global fishmeal and fish oil production increased in 2017, driven by higher landings of small pelagics in Peru, Chile and the Nordic countries. Peru is the main producer and exporter, while China is the largest market, followed by Norway.
Higher 2017 output from Peru and Chile adds fishmeal supply, which is bearish for fishmeal prices and supportive for substitute protein demand such as soybean meal. The report is backward-looking, so the price effect is modest.
aquafeed.comAquafeed Media SLUJun 21, 2018Not 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.
