Presenting a global update on the market dynamics of the marine ingredients industry, with a specific focus on China, IFFO’s 6th China marine ingredients workshop hosted an array of speakers on 12th December in Guangzhou city.
The strategic use of marine ingredients was highlighted across the industries, with Dr. HE Gen (Ocean University of China) noting that using precision nutrition is the only way to ensure that marine ingredients ingredients are used to their full potential, where and when they are needed. Dr. NIU Jin (Sun Yat-sen University) echoed this by noting that for farmed shrimp the unique function of fishmeal cannot be replaced by other substances, so it is necessary to maximize its function potential by also using functional additives when inclusion has to be reduced. These trends of the strategic use are also growing in China, with HUANG Lun (Tongwei Agricultural Development Co., Ltd) noting that with large-scale farming, fishmeal inclusion will have to decrease to balance the overall supply of fishmeal with the growing market.
Given prices and increasing demand for both fishmeal and fish oil, efforts have been made across the industry to reduce waste and increase efficiency, with speakers highlighting vessel improvements and increasing focus on traceability and supply chain management. The complex management of stocks was presented by James Hinchcliffe (European Fishmeal and Fish oil Producers), who provided a succinct overview of how stocks are accessed and quotas are determined.
Key takeaways from the event are available here