Transcript The Marine Ingredients Organisation

Marine Ingredients Overview
Intrafish Investment Forum, London 2013
Andrew Mallison
IFFO, The Marine Ingredients Organisation
WHAT DO WE DO?
Conferences
Standards
Market
reports
Communications
Technical
Support
Lobbying
http://ami-ingredients.com/product-applications
Raw Material SOurces
Industrial
Food grade
Prime
Prime food fish
reduced to meal & oil
atlantic and pacific herring
10%
sardinella
15%
jack and horse mackerel
20%
pilchard (sardine)
25%
blue whiting
30%
sprat
40%
capelin
50%
Increasing share of fishmeal obtained from fish by-products
From whole fish
From fish residues
World fishmeal production (000 mt)
Peru
Chile
Thailand
U.S.A
Japan
Scandinavia*
Others
7,000.0
6,084
6,000.0
6,018
5,354
5,269
5,587
5,519
5,091
5,000.0
4,838
4,535 4,672
4,560
4,000.0
3,000.0
2,000.0
1,000.0
0.0
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
World fish oil production (000 mt)
Peru
Chile
Scandinavia*
U.S.A
Japan
Other
1,200.0
1,035
1,000.0
1,029
906
886
1,037
1,036
993
903 885
915
841
800.0
600.0
400.0
200.0
0.0
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
Total annual fishmeal production*
(000 mt)
2012
2013
2014
2,452
2,115
2,052
*Peru, Chile, USA, IFFO Europe and South Africa
+ 16%
Total fish oil production* (000 mt)
2012
2013
2014
595
556
529
*Peru, Chile, USA, IFFO Europe and South Africa
+ 12%
Percentage of fishmeal usage by
market in 2011 and 2012
Aquaculture
Chicken
Pig
Other*
2%
23%
7%
68%
Percentage of fish oil usage per market
2012
2011
3%
4%
19%
22%
78%
Aquaculture
Direct Human Consumption
74%
Other uses
World fishery production (million mt)
Capture
Aquaculture
200
160
120
80
40
0
1990
1994
1998
2002
2006
2010
2014
2018
2022
Inclusion of fish meal in diet for salmonids ( %)
World
Norway
2010
2011
Chile
Trout Eu
2012
2013
40
35
30
25
20
15
10
5
0
2009
2014
Fish meal usage (000 mt)
Trout
Sea Bass/bream
160
140
120
100
80
60
40
20
0
2009
2010
2011
2012
2013
52 2008
10 2009
20 2009
30 2009
40 2009
50 2009
7 2010
17 2010
27 2010
37 2010
47 2010
5 2011
15 2011
25 2011
35 2011
45 2011
3 2012
13 2012
23 2012
33 2012
43 2012
1 2013
11 2013
21 2013
31 2013
41 2013
Weekly fishmeal (65% FOT) and
soyameal (44% FOT) ratio in Shanghai
(RMB/mt)
5.0
4.5
4.0
3.5
3.0
2.5
2.0
1.5
1 2010
9 2010
17 2010
25 2010
33 2010
41 2010
49 2010
5 2011
13 2011
21 2011
29 2011
37 2011
45 2011
1 2012
9 2012
17 2012
25 2012
33 2012
41 2012
49 2012
5 2013
13 2013
21 2013
29 2013
37 2013
C&F fish oil/rapeseed oil prices ratio in
Rotterdam (Netherlands) (US$/mt)
2.5
2.3
2.1
1.9
1.7
1.5
1.3
1.1
0.9
0.7
Omega-3 demand forecast
Crude Anchoveta Fish Oil Production and Omega-3 Market Demand
(in 000s of metric tons)
Typical Sustainable Cap
Crude fish oil production
Omega-3 market demand
Source: International Fishmeal and Fish Oil Organisation, GOED Analysis
Dietary supplements are still demanding the
bulk of anchovy oils
Omega-3 Demand Outlets by Crude Anchoveta Fish Oil
(in metric tons)
Pharmaceutical
41,780
Functional Food
16,420
Dietary Supplements
122,980
Pet Food
26,490
Clinical Nutrition
3,090
Source: Frost & Sullivan, GOED Analysis
Feeding a growing population.
Responsible Feed Ingredients
Responsible Feed
Responsible Aquaculture
Global Food Security
IFFO RS STANDARD
SET BY MULTI-STAKEHOLDER
GROUP
IFFO RS KEY COMPONENTS
•Responsible Sourcing
•Food Safety
IFFO RS – UPDATE NOV 2013
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Now over 100 certified factories
Over 40% of global fishmeal production
17 whole fish stocks
63 species approved as by-products
12 Chain of Custody certificates
Improver Program
Summary
Market forces drive raw material allocation between direct human
consumption and reduction to meal and oil
Overall, fisheries related to reduction are being well managed with stable
production for the future, increasing contribution from by-products
Aquaculture takes and will continue to take the lion’s share in the usage of
marine ingredients.
Reduction in the diet inclusion rates of fishmeal/oil. Market choices in nonmarine inclusions.
Growth of direct human consumption of fish oil