IFFO, the international trade body that represents the marine ingredients industry, has reported higher global fishmeal and fish oil production in 2021 through October.
Cumulative 2021 production of fishmeal rose by 5 percent through the first 10 months of 2021, with global fish oil production increasing by 8 percent compared with the same 10-month period in 2020, IFFO said.
The totals are down from this summer – in August 2021, year-over-year fishmeal production was up 6.5 percent and fish oil production was up 12 percent. And in July, global fishmeal production had been up 8 percent year-over-year and fish oil production was up 17 percent.
Of the countries with trading volumes tracked by IFFO, just three countries – Peru, Chile, and India – notched higher production of fishmeal and fish oil year-over-year, but with Peru accounting for such a larger percentage of overall global production, it was enough to push total tonnage higher.
In China, the world’s largest buyer of fishmeal and fish oil for aquafeed, demand from the pig-farming sector pushed prices higher year-over year, IFFO reported.
“The cumulative pig feed output through October confirms robust demand from the pig-farming sector in view of the forthcoming New Year´s celebrations around China,” IFFO said. “The pig sector is struggling to slash overcapacity.”
While China’s aquaculture industry is now in its low season, IFFO confirmed the country’s aquafeed output rose year-over-year through October 2021, and that prices for farmed seafood products also rose compared to 2020, “supported by fine trading volumes.”
“Shrimp prices remain generally stable in the main farming areas,” it said.
Photo courtesy of IFFO
