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Fishmeal. (Photo: Stock File)

IFFO highlights marine ingredients’ strategic and vital role

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Friday, May 04, 2018, 22:20 (GMT + 9)

In its second annual report, Marine Ingredients Organisation IFFO outlines its increased investment and focus on data gathering and technical reports, with the aim of effectively communicating the strategic and vital role of marine ingredients. In addition, it offers a succinct overview of the group’s work with the aim to engage and inform stakeholders.

“IFFO enjoyed another fruitful year with a continued growth in membership, over 1,082 delegates attending five IFFO hosted events, 90 market reports published, and a series of technical projects completed,” the report states.

The organisation points out that in order to increase and speed up technical projects, the IFFO Board developed a new process for commissioning projects and increased investments. Examples of this evidence-based approach include IFFO’s projects on the use of antioxidants, which are essential to the viability of the fishmeal sector as they are required to stabilise and protect fishmeal during transportation.

Furthermore, IFFO informed that, together with a number of other funders, it contributed to the additional safety studies on ethoxyquin, which are an essential component of the reauthorisation process in the EU.

IFFO also completed project trials on antioxidant stabilisation with the kind support of some of IFFO’s members. The data from the trials contributed to the work with the International Maritime Organisation (IMO), and the amendment of the shipping codes.

Other important project work has looked at the management of forage fish stocks, raw material supply, environmental impacts relative to other feed ingredients, and co-sponsorship of an international scientific conference on small pelagic fish stocks.

Another area of focus has been IFFO’s market research service, which continues to grow largely thanks to information gathered from members who represent between 75 per cent and 80 per cent of total annual trade worldwide.

On top of this, IFFO has continued to grow its extensive network of international bodies and government departments to regularly exchange market data. These include UN FAO, National Oceanic and Atmospheric Administration (NOAA), the China Fishery Society and a newly agreed connection with the Faroese Fishery Department. This network has resulted in production and/or trade annual data being gathered for 110 countries; monthly data for 40 countries and weekly data for around 10 countries.

In addition to this, IFFO has develop various time series on prices and on production of competing commodities, whose length sometimes goes back to several decades.

 
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Photo Courtesy of FIS Member  COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
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