Total cumulative fishmeal production for the first eight months of 2020 (including salmon-based meal) was down by around 2.5% compared to the same period in 2019, with annual reductions in all regions bar Denmark/Norway and African countries.
Total cumulative fish oil production in the same period was down by around 3%, driven by significant drops in the historically big fish oil-producing countries of Peru and the USA, plus India.
Meanwhile, typhoons in China’s north-east region at the beginning of September, plus military exercises in in key fishing grounds, have impacted fishmeal production.
Large feed plants mainly consumed existing stocks, while small and medium-sized feed mills bought fishmeal when needed. The market has thus remained subdued for some time, although a significant acceleration was reported in September.