Tridge summary
In 2023, the agricultural feed industry experienced a severe shortage of fishmeal and fish oil, causing a significant price surge. However, the successful anchovy season in Peru from November 2023 to January 2024, which met 75% of the quota, is anticipated to stabilize prices favorably for buyers. As supply increases, fishmeal prices are projected to gradually decrease in 2024, although they may still be higher than historical averages. The market is also expected to adjust the balance between fishmeal and its vegetable counterpart, soybean meal, following a price drop for the latter last year.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
In 2023, agricultural feed producers are facing severe shortages of fishmeal and fish oil. Difficulties in supply persisted for the first six months of last year and led to a serious increase in prices. However, Peru's anchovy season, which ended in January 2024, was so successful that prices should adjust to the benefit of buyers, it said. Thus, in this anchovy fishing season, which lasted from November 2023 to January 2024, the anchovy quota was fulfilled by 75%. As FEEDLOT reports with reference to the Rabobank agency, the quota of 1.682 million tons is considered good, but below average - however, this is already higher than last year, and the impact of catch volumes on market dynamics can already be observed. As supply increases, fishmeal ...
Source: Fishretail
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