Tridge summary
The El Niño phenomenon, alongside a notable decline in anchovy catches in Peru and Chile, has led to a significant increase in demand for frozen sardines from China, causing a surge in the prices of fishmeal and fish oil. This shift has forced Chinese processors to seek alternatives, turning their attention to Russian frozen sardines for protein feed production. As a result, the prices for Russian sardines, iwasi, and other fish products have escalated. Analysts predict that this trend will continue into 2024, affecting global fish product markets.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Russian fish producers and processors say that China's demand for frozen sardines continues to grow, due to the El Niño natural phenomenon in Latin America, and a sharp drop in anchovy catches in Peru and Chile has led to higher prices for fishmeal and fish oil. In response to the increase in fishmeal and fish oil prices, Chinese processors have turned to buying and using Russian frozen sardines to produce protein feed. At the same ...
Source: Foodmate
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