Image: Vasep / FIS

High fishmeal prices will be difficult to reduce in 2024

WORLDWIDE
Wednesday, February 21, 2024, 07:00 (GMT + 9)

Although the second anchovy season ending in January 2024 was relatively successful in Peru, the global fishmeal market is still characterized by high prices and limited supply. According to sources in Peru, recent data shows a shortage of super-premium fishmeal, with prices in Peru reaching $2,150/ton CFR in China, while standard grade fishmeal is at $1,700/ton , CFR.

Source: Stockfile FIS

Sources in India say the price of 65% fishmeal is currently at 1,700 USD/ton, while 67% grade is at 1,800 USD/ton.

However, a lack of supply has complicated market dynamics, as Chinese buyers have paused their activities to focus on New Year celebrations starting on February 10.

Source: Stockfile FIS

In China, recent inventory figures as of January 29 showed a total of 184,370 tonnes. According to sources, although arrivals are slowly increasing and consumption is stable, the market is witnessing a decreasing supply trend, mainly due to animal feed mills trying to reserve goods before the Tet holiday. Lunar New Year.

Source: Stockfile FIS -->

Furthermore, discussions on fishmeal prices highlight the scarcity of super-premium Peruvian fishmeal, with prices hovering around CNY 17,000-17,100 (USD 2,386-2,400)/ton in China.

Sources said premium fishmeal and Thai fishmeal also face limited supply, with corresponding price fluctuations and growing demand.

Domestic production levels in China have seen prices rise, reflecting sluggish fishing activity and rising global fishmeal prices. According to sources, this situation has prompted a shift in focus to alternative feed ingredients such as meat and bone meal and poultry by-product meal, both of which saw significant import increases into China last year. 2023.

Industry insiders have repeatedly expressed optimism for the upcoming fishing season in Peru, despite the uncertainties. The possibility of a weak to moderate El Nino raises hopes that normal fishing conditions will return from April onwards, in stark contrast to the challenges faced in 2023 with Peru's cancellation first anchovy season.

<-- Source: Stockfile FIS

Peru's Ministry of Production has established quotas for other marine species, such as mahi mahi and bonito, but has not yet announced quotas for the fishing season in southern Peru, where exploratory fishing takes place. last month.

With a variety of factors, including weather conditions and regulatory interventions, fishmeal buyers and producers for a period did not expect a more stable fishmeal market later this year. It is still unknown when the price of fishmeal will decrease further.

Source: Vasep (Translated from the original in Vietnamese)

[email protected]
www.seafood.media

Print