04/08/2021

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, covering IFFO’s analysis on marine ingredient market trends. 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. A specific and additional focus is made on China for the period covering January-June 2021 given that China is by far the main market for marine ingredients.

Less raw materials reported on average in June 2021 vs June 2020

As expected, total raw material in June 2021 was smaller than the tonnage reported in June 2020 by around 40%. This is mainly because the first fishing season in Peru in 2020 had its peak in June (as operations only started on May 13th 2020), although most of the regions analysed in the IFFO Monthly Report indicate less raw material in June 2021 than in June 2020. The only exceptions were Chile and the African countries.

The total cumulative productions of the countries considered in this report during the first 6 months of 2021 were higher year on year. Peru, Chile and India were the only countries to report a higher cumulative production during the first 6 months of 2021 with respect to the period January-June 2020.

China’s fishmeal production remains low, driving increased imports

Domestic fishmeal production between May and September relies only on by-products, therefore volumes remain low. Fishmeal imports continue to grow, while stocks in the ports´ warehouses continue to fall thanks to the aquaculture consumption of marine ingredients. Typhoons have delayed the clearing of some cargos, keeping stocks at ports 'warehouses lower than expected.

Seafood demand and prices remain strong, although shrimp prices in July almost flattened due to high supply and low demand. Domestic aquafeed output continues to increase as China enters into the peak of its aquaculture season.

The pig inventory continues to improve and is getting closer to the pre–African Swine Fever levels.