14 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 0 500 1000 1500 2000 2500 3000 Oct 2005 Jan 2006 Apr 2006 Jul 2006 Oct 2006 Jan 2007 Apr 2007 Jul 2007 Oct 2007 Jan 2008 Apr 2008 Jul 2008 Oct 2008 Jan 2009 Apr 2009 Jul 2009 Oct 2009 Jan 2010 Apr 2010 Jul 2010 Oct 2010 Jan 2011 Apr 2011 Jul 2011 Oct 2011 Jan 2012 Apr 2012 Jul 2012 Oct 2012 Jan 2013 Apr 2013 Jul 2013 Oct 2013 Jan 2014 Apr 2014 Jul 2014 Oct 2014 Jan 2015 Apr 2015 Jul 2015 Fish Meal Price by Month ($) Market analysis FISHMEAL AND FISH OIL PRICES Fishmeal prices trend (see Figure 12) is showing progressive growth from year to year. Figure 12. Fish Meal Price by Month ($/MT) Increasing global supply of fishmeal and fish oil raw material relative to 2014 now is starting to impact prices, but they remain strong by historical standards (Omega Protein, August 2015). According to a Lux Research study, fishmeal prices have quadrupled since 2000 and still rise at a 10% annual rate. The fishmeal alternative - soy meal is also becoming more expensive sources of protein. For decades people were benchmarking the two commodities, but fishmeal is now no longer correlated to soybean meal. Changing trends in the aquaculture market and the possible future scarcity of fishmeal means that instead of being priced like a commodity, the market could soon see it priced as a strategic ingredient vital for fish. Therefore, the fishmeal prices will behave more like fish oil prices do farming (Rabobank, Global Outlook on Aquaculture Leadership, 2015). FISHMEAL CONSUMPTION Fishmeal and fish oil are essential ingredients in feed for terrestrial animals like chicken and pigs, as well as for fish and shrimp. High-value carnivorous fish in particular need feed with a high fishmeal content. Other species, particularly cold water species such as salmon, also need fish oil. The structure of fish meal consumption has differed significantly (see Figure 13) from the 60’s to the present time. As one may see, the main consumers of the fishmeal became the aquaculture farms. The second industry using fishmeal is pork production. Figure 13. Fishmeal consumption structure Source: IFFO 2012 Source: Index Mundi
RkJQdWJsaXNoZXIy MTc0MzY4Mg==