Strong Industry Fundamentals
Industry growth prospects remain strong due to 3 fundamental factors. Firstly, the consumption of fish and seafood globally has continued to rise steadily on increasing health consciousness and rising living standards alongside a growing population. Secondly, this rising fish consumption is set against a backdrop of regulated supply for ocean-catches, which has been set at a sustainable and stable level of around 85 million metric tonnes per annum for the past 20 years. Lastly, aquaculture has grown to cater for the steadily rising global demand for fish, and as such, demand for fishmeal has risen along with aquaculture production.
Over the years, pricing trends for ocean-caught fish and fishmeal have remained favourable. These upward price trends indicate the resilient nature of our key products and growing preference for fish in consumer diets.