13 B u s i n e s s p l a n | F i s h m e a l a n d f i s h o i l p r o d u c t i o n Market analysis MARK E T ANA LYS I S GLOBAL TRADING Like global production of fishmeal, global consumption is to large extent concentrated around some key players. China is by far the greatest consumer, with a fishmeal consumption level ranging in between 1.6 and 2.0 million metric tons (MMT) annually (see Figure 9). Japan then follows with a consumption of about 0.7 MMT, Thailand with about 0.4 MMT and Norway has around 0.35 MMT annually. China has been the main driver for the increasing consumption concentration, as they have gone from consuming 3 per cent of world fishmeal production in 1985 to nearly 40 per cent in 2007. As China imports around 1 million MT fishmeal annually (around 1/3 of total world trade) their demand is a significant factor in the forming of fishmeal prices. Figure 11. China fishmeal consumption (1000 MT) Source: Index Mundi
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