Tridge summary
In 2020, despite a decrease in production from major fishmeal-producing countries like Chile, the U.S., and India due to COVID-19 shutdowns, the overall production of fishmeal and fish oil saw an 11% and 12% increase respectively. This was largely driven by growth in countries such as Japan, Thailand, Russia, Morocco, and Germany. The trend of incremental growth in marine ingredient production is expected to continue into 2021, with Peru and the U.S. expected to make a comeback. Despite stable aquaculture production in China, demand for marine ingredients remains steady due to the effort to regrow the hog herd.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Despite declines in major fishmeal-producing countries, overall production increased last year Global fishmeal production is set for another year of growth, after 2020 saw an 11% increase and fish oil production rose 12%, according to IFFO, The Marine Ingredients Organization. The world’s largest fishmeal producers, including Chile, the U.S. and India, all reported significantly reduced production in 2020, particularly during COVID-19-related shutdowns, according to IFFO. Although these are typically among the nations responsible for producing more than 50% of the world’s fishmeal and fish oil, growth in other countries including Japan, Thailand, Russia, Morocco and Germany exceeded the declines posted last year. Total fishmeal supply increased more than 100,000 metric tons, and fish oil saw an increased production of 30,000 metric tons, according to IFFO. While increases in marine ingredient production remain incremental, the upward trend is likely to continue into 2021 according ...
Source: Feed Strategy
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