Global Aquaculture Update 1H 2024: The New Normal
January 22, 2024 | 1 min to read
In 1H 2024, the salmon industry is set to remain the most profitable aquaculture sector, benefiting from high prices, reduced feed costs, and lower biological expenses. Conversely, the shrimp industry struggles with instability due to low prices and weak Chinese demand, exacerbated by high inventories and a weaker renminbi, hindering any potential price recovery.
The salmon industry will again be the most profitable aquaculture sector in 1H 2024. High prices, albeit slightly less high than in 1H 2023, will combine with marginally lower feed costs and lower biological costs to support strong farmer profitability.
It is hard to see when the shrimp industry will stabilize. Without a supply reduction, prices will remain at low levels. A key concern is weakness in Chinese import demand. While Chinese demand may still be positive, high inventory levels and a slightly lower renminbi will dampen a shrimp price recovery.
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