Prices of fish meal dropped as low as $1,400 (€1,056) permetric ton, with the fish meal/soy bean meal ratio being now below 2.5 (10YRaverage 3.3), Kolbjorn Giskeodegard, analyst at Nordea Markets, wrote in hisweekly salmon update.
The inventories in China are still lower than normal, but the gap has "narrowed substantially over the past months," he said.
"There are also expectation on a better second season in Peru, hence higher future supply."
This was confirmed by Peruvian fishmeal producer Copeinca in a second quarter fishing outlook, published Thursday.
"If
