Peruvian fish meal price spikes as output falls, El Nino looms
SEAFOODNEWS.COM [Bloomberg] By Rudy Ruitenberg - November 19, 2014 -
Fish meal prices in Peru, the world’s biggest producer, have jumped to the highest in more than a decade amid low anchovy stocks off the country’s coast, lifting feed costs for salmon and shrimp farmers.
Spot prices for prime fish meal were $2,370 a metric ton last week, climbing 66 percent from $1,430 a ton at the start of the year, according to data from Peru Broker SA. Falling output of fish oil and meal in Peru may create an “explosive” price situation, industry analyst Oil World said last month.
Australia’s Bureau of Meteorology said today there’s at least a 70 percent chance of the El Nino weather phenomenon, as sea temperatures warm in the tropical Pacific Ocean. El Nino conditions can reduce the cold coastal currents off South America’s west coast and reduce Peru’s anchovy catch.
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