According to the latest analysis from IFFO, the Marine Ingredients Organization, the availability of raw material for use in fishmeal increased in November 2020 year-over-year. But cumulative fishmeal production was still down overall between January and November 2020, primarily due complications caused by the COVID-19 pandemic, the organization said.
Total cumulative fishmeal production in the first 11 months of 2020 was down 0.7 percent year-over-year, with improved performance globally except in Peru, Denmark, Norway, and Africa.
Fish oil production from January through November was even with 2019’s totals, with reductions in output in Peru, the U.S.A., and India offset by improved production in the rest of the world. IFFO noted a significant rebound in India’s production after the country emerged from a long national COVID-19-related lockdown.
On the consumption end of the market, China’s fishmeal imports dropped in the January to November time period, partially as a result of the country’s loss of a significant portion of its domestic pig stock due to an outbreak of African swine fever.
IFFO noted lower prices for aquatic products across the board in 2020, though notably, it said it had seen higher trading volumes. It predicted the global shrimp trade would see a reduction in volume in 2020 as a result of foodservice shutdowns and limitations caused by COVID-19.
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