The total fishmeal production of the countries sample analysed in the IFFO reports is estimated at 2.443 million metric tonnes (mt) in 2021, against the 2.359 million mt reported in 2020. This countries sample, covering approximately 50% of the world production, can be taken as a proxy for global trends.

Peru, Chile and India have increased their cumulative fishmeal output in 2021, while the Northern European countries, the USA and the African countries reported a collective decrease of more than 160,000 mt, year on year.

In terms of fish oil, on the contrary, the overall output of the countries sample analysed in the IFFO report has dropped by almost 6%. The total output for this sample in 2021 is currently estimated at 546,000 mt vs 581,000 mt in 2020. Chile, Iceland and India have been the countries that have improved their production in 2021, while all the other areas, including Peru, the key producer, reported a contraction.

China: record levels of fishmeal imports (2021) expected to continue in 2022

From January to April 2022, little production of marine ingredients is expected, and most of it is expected to be based on by-products. The record level of fishmeal imports reported in 2021 might be reached again in 2022. The demand of marine ingredients is expected to be still dominated by aquaculture, in a context where the Chinese authorities have committed to managing the sector according to strict environmentally protective criteria.

Aquaculture currently remains off-season. The average trading price of aquatic products rose in December 2021 and January 2022 year on year, supported by healthy trading volumes. The farm-gate prices of farmed species rose before the Spring Festival holidays as expected.

The pig sector continues to suffer from over-capacity, leaving the price of live pigs still under pressure. The Spring Festival holidays, which traditionally implies a higher consumption of pig meat, may only provide a short-lived respite.

A taste of the many statistics and analyses that can be found in the market intelligence reports that IFFO dedicates to its members is reported in the above, covering IFFO’s analysis on marine ingredient market trends from January to December 2021. They include an analysis of both the supply and demand sides of the market, with research focusing also on the global trends of animal farming and fish catches, agri-commodities, commodities’ prices and general macro-economic conditions.

A specific and additional focus is made on China for the period covering 2021 and January 2022 given that China is by far the main market for marine ingredients.

London, 3 February 2022