Prices for key ingredients used in aquatic feed are down but volatile, Steve Hart, vice president of Global Aquaculture Alliance, said.
Prices for fishmeal — the most expensive component in aquatic feed — have fallen in recent months, while prices for US soybeans — the biggest component by volume — have also recently fallen (see graphs below).
But drought conditions in South America have driven price increases for corn, which also drove increases for soybean prices.
Despite increases in oil prices, bulk freight costs are relatively stable, however.
Hart said “weather is key” when it comes to prices of aquatic feed ingredients.’
But he noted aquatic feed costs, which are the biggest variable cost for aquaculture farmers, could be reduced with better formulations, encouraging feed manufacturers to use databases like the International Aquaculture Feed Formulation Database for fish when developing feed.