Despite the significant decline in fishmeal and fish oil supplies expected this year from
"I would believe we're going to see a very large increase in aquaculture feed [over the next few years]," Aiden Connolly, vice president of Alltech, told listeners during the company's 2013 Global Feed Survey results webinar early Monday morning.
The company, which provides feed production information to the United Nations Food and Agriculture Organization (FAO), is also predicting a dramatic increase in aquaculture production in the near future, Connolly said.
Feed for aquaculture currently makes up 5 percent of global feed production, but Connolly "wouldn't be surprised if it grew to 8 to 10 percent of the world market in the near future."
Regulations are increasing in regards to contaminants, which has put a slow on some of the world's feed production, but aquaculture may be less affected than beef or poultry due to demand.
"Obviously, we have a very dramatic situation wherewe cannot continue to fish the amount of fish out of the sea that we have in the past,” Connolly said. “People want to eat more fish because, just like chicken, it is perceived [as] very healthy."
The results of Alltech's survey show a whopping 44,793 million metric tons global fish feed production level last year – a 55 percent increase over the prior year. Some of the increase comes from more companies being included in the survey this year, but most reflects a widespread production increase trend, Connolly said.
The near 45 million metric ton production level may come as a surprise to the industry, International Fishmeal and Fish Oil Organization (IFFO) Technical Director Andrew Jackson told IntraFish.
“It's a big number, and I think a lot of people don't know just how big that number is,”
Like Alltech, the IFFO expects that number to continue to rise. It is expecting gains of about 7 to 8 percent this year and perhaps as high as ten percent,
Achieving growth in a supply-strapped industry
How will feed producers manage to increase fish feed production while fishmeal and oil – two of the most important ingredients in salmon and shrimp feed – decrease?
The answer is that for one, fishmeal and oil are becoming less important ingredients as feed producers find more and more viable protein substitutes.
“Fishmeal has traditionally represented a very verylarge percentage of the diets of fish, and that isnot going to continue,” Connolly told IntraFishduring the webinar's question and answer period. “Most of the companies we work with in the feed milling area have already started to address that. Many of them are at 10 to 15 percent of fishmeal today, and many are looking to eliminate it completely.
Connolly expects global aquaculture feed productionto surpass the 50 million metric ton mark in the next few years, which would be a big milestone, both statistically and psychologically speaking, for the industry, Connolly said
(seafood.vasep.com.vn) Vietnam’s shrimp exports reached $394 million in October 2024, up 24%. In the first ten months of this year, shrimp exports brought in $3.2 billion, up 13% compared to the same period last year. Exports to all major markets recorded double-digit growth in October.
International Development and Investment Corporation (IDI), a key member of the Sao Mai Group, has consistently ranked among the largest seafood producers and exporters in Vietnam.
(seafood.vasep.com.vn) In recent years, the US has consistently been Vietnam’s largest seafood export market. Over the past five years, seafood export turnover to the US has ranged from 1.5 billion USD to 2.1 billion USD anually. Despite facing strict protective policies such as anti-dumping and countervailing duties, U.S. market demand remains high, and the quality of Vietnamese seafood continues to improve, helping to maintain and expand its position in this market.
(seafood.vasep .com.vn) The return of Donald Trump to the White House for a second term will bring significant impacts on Vietnam, particularly its pangasius export sector. Trump's economic policies, such as raising import tariffs, reducing corporate income taxes, and attracting foreign direct investment (FDI) back to the US, are expected to directly influence various industries in Vietnam.
(seafood.vasep.com.vn) The UAE ranked 16th among importers of Vietnamese shrimp from 2018 to 2022, accounting for approximately 0.5% of Vietnam's total shrimp export value. Annually, Vietnam exported around US$20 million worth of shrimp to this market.
(seafood.vasep.com.vn) The company also announced that its farms are well-prepared and will begin stocking in mid-November when the weather conditions are favorable.
(seafood.vasep.com.vn) To maximize natural advantages and increase the value of local aquatic products, Ca Mau province is promoting the ecological shrimp farming model under mangrove forests. This model not only brings high profits to people thanks to businesses committing to purchasing products at prices 10-20% higher than the market price but also aims for sustainable development and environmental friendliness.
(seafood.vasep.com.vn) The Comprehensive Economic Partnership Agreement (CEPA) between Vietnam and the United Arab Emirates (UAE) was signed after just over a year of negotiations. With high demand for premium seafood in the UAE, particularly for shrimp and tuna products, Vietnam’s tuna industry is expected to gain increased export opportunities and higher product value thanks to the preferential terms of the CEPA.
(seafood.vasep.com.vn) In October 2024, seafood exports from Vietnam are estimated to exceed $1 billion, marking a 28% increase compared to the same period last year. This achievement signifies the first return to the $1 billion milestone in 27 months, since June 2022, providing a significant boost for Vietnamese seafood enterprises.
(seafood.vasep.com.vn) Under the theme "Dong Thap Pangasius: Green Journey - Green Value," the Dong Thap Pangasius Festival 2024 will take place over two days, November 16th and 17th, at Vo Nguyen Giap Square in Hong Ngu City.
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