From IFFO on March 23, IFFO analyzed the trend of the marine raw material market from January to March 2021. Including market supply and demand analysis, and focusing on global trends in the global animal husbandry and fishing industry, agricultural product and commodity prices, and macroeconomic conditions. Since China has been a major market for marine raw materials so far, we have paid special attention to the development trend in China.

The total production of fishmeal and fish oil in January 2021 exceeds that of January 2020

Peru, Chile, the Nordic region and African countries reported that raw material supply in January 2021 has improved compared to January 2020. In contrast, the United States reported that its raw material supply has fallen sharply due to reduced catches in Alaska. In fact, the oil herring fishing season in the United States will begin in April.

Due to the higher than average catches in Peru and Chile, the total production of fishmeal and fish oil (including salmon meal and fish oil) in January 2021 was much higher than in January 2020.

China: Demand for seafood remains strong, and aquatic feed production is expected to rebound in mid-March

Before and after the Spring Festival, domestic fishmeal production declined. After the holiday, Shandong and Zhejiang resumed production, while the Liaoning fishmeal factory cannot resume production until September due to insufficient raw materials. Compared with the first quarter of 2020, the domestic supply of fishmeal in the first quarter of 2021 may not improve.

The pig industry continued to recover. Pig feed production increased at the beginning of the year, but the recent outbreak of African swine fever seems to have affected pig feed consumption in February and March.

The aquaculture industry is still in the off-season, and the production of aquatic feed remains sluggish for the time being. We expect that from the second half of March, the production of aquatic feed will pick up. The rise in the price of aquatic products shows that thanks to the recovery of China's catering industry, the demand for seafood is strong.

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