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 from January to October 2020. 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.
Availability of raw materials
In October 2020, the overall performance of the countries analysed in the IFFO Market report was in line with the 2011-2019 average for the same month.
All regions, bar Peru and the USA, reported an improvement in terms of available raw material in October 2020 with respect to October 2019.
Fishmeal and fish oil production
Total cumulative fishmeal production through October 2020 (including salmon-based meal) remained slightly down with respect to the previous year (-1,4%), with annual reductions in all regions bar Denmark/Norway and African countries.
Total cumulative fish oil production in the first 10 months of the year was also down by less than 1%, driven by significant drops in the historically big fish oil-producing countries of Peru and the USA, plus India.
India’s landings have continued to rebound since the imposition of a covid-19- related lockdown, reporting year-on-year improvements in all months since then.
China: aquafeed production decreasing and pig feed production growing
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 higher-than-expected quota announced in Peru seems to have affected the price of domestic fishmeal. Fishmeal consumption has temporarily slowed down as the main aquaculture season is now over. As a result, aquafeed production is set to drop, whereas pig feed production continues to grow at a high rate.
The lower temperatures represent a challenge for aquaculture, requiring more demanding quality control on water and feed.
Pig production continues to recover and could reach the pre-ASF levels in 2021. As the number of pig slaughtered climbed in the past three months, domestic pork supply ascended and prices declined, with also imports of pork meat beginning to fall.