IFFO’s analysis on marine ingredient market trends/ January-August 2020

A taste of the many statistics and analyses that can be found in the market intelligence reports that IFFO dedicates to its members is reported below. They include an analysis of both the supply and demand sides of the market, with research focusing also on the global trends of animal farming and fish catches, agri-commodities, commodities’ prices and general macro-economic conditions.


Marine ingredients output: August 2020 performance in line with the 2011- 2019 average for the same month 

The higher-than-average landings in Northern Europe offset the below-than-average availability of raw material in Peru, Chile, South Africa and India.

Total cumulative fishmeal production through August 2020 (including salmon-based meal) remained slightly down with respect to the previous year, at around 2,5%, with annual reductions in all regions bar Denmark/Norway and African countries.

Total cumulative fish oil production in the first 8 months of the year 2020 was down by around 3%, driven by significant drops in the historically big fish oil-producing countries of Peru and the USA, plus India.

China: robust seasonal demand for fishmeal fuels imports

As China is by far the main market for marine ingredients, a special focus is dedicated to this country with an ad hoc report.

The June-September period is traditionally the peak season for the consumption of fishmeal by China’s aquaculture sector.

Floods, typhoons and high temperatures this year have negatively affected aquaculture from June onwards. The marine fishing operations and fishmeal production have been postponed following three typhoons hitting China’s north-eastern region beginning of September, plus military exercises took place in some key areas where important fishing grounds lie. Large feed plants mainly consumed existing stocks, while small and medium-sized feed mills bought fishmeal when needed. The market has thus remained subdued for some time, although a significant acceleration has been reported in September.

Landings in September were below previous years’ levels.

Fishmeal imports from Peru continue to improve, while daily off-takes from ports continue to surpass daily arrivals, causing port stocks to continue to decrease.

The average price of aquatic products in August 2020 was a little higher year on year, while trading volumes in the whole sale market were a bit lower. The aquatic feed demand was still tepid while the increase in pig feed was noteworthy.