Rabobank: Normalised fishmeal supplies provide optimism for farmed salmon and shrimp sectors

Salmon and shrimp farmers around the world continue to face many challenges, but normalization of fishmeal and fish oil supplies worldwide is likely to reduce some of their costs, according to the latest industry report from the Dutch financial services company based in Utrecht Rabobank.

Prepared by Rabobank Senior Global seafood specialist Gorjan Nikolik in the Global Aquaculture Update 2H 2024 report entitled “As demand grows and costs normalize, a positive side emerges” stated that Biological problems still exist For many farmers, feed costs should begin to fall as fishmeal supplies recover.

“This will be most visible in shrimp and will likely be first in Ecuador, where production costs are quickly passed on to consumers, and later in Asia, where raw material costs take a little longer to be passed on to consumers in the feed industry,” Nikolik said.

Rabobank predicts that fishmeal supplies will be much more stable in the last six months of 2024. La Niña weather patterns are bringing cooler waters to the Pacific Ocean, meaning conditions are right for a solid second year of Peruvian anchovy fishingeason – is scheduled to begin in November.

Anchovy fishing in Peru – the largest in the world in terms of production – made a strong revival in first season 2024 after the annual El Niño season serious challenges in 2023which significantly reduced the biomass and therefore the production of fishmeal and fish oil in Peru.

The report suggests the second season in 2024 will be as strong as the first, which should allow fishmeal prices to correct further. However, it added that it remains relatively expensive compared to soybean meal.

China, the world’s largest buyer of fishmeal, is rebuilding its production …