Fallout from Russia's invasion of Ukraine is likely to further squeeze feed producers' margins and eventually lead to higher prices for fish farmers.
That's the view of Rabobank senior analyst Gorjan Nikolik, who said the biggest impact he is seeing from the conflict is on costs, not only indirectly through rising fuel prices but also the cost of commodities.
Even before the invasion, agricultural commodities such as soy, corn and wheat were already inflated, but now market watchers expect further price increases.
