Volume dynamics of fishmeal in salmon feeds Marta Rojo - Skretting

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1 Volume dynamics of fishmeal in salmon feeds Marta Rojo - Skretting IFFO Conference Washington October 2017

2 Skretting - a global company feeding 60 aquaculture species 2,900 employees 2 million tonnes of feed Production in 18 countries 2

3 3 Our mission

4 4 How to feed the growing world population in a sustainable way?

5 The blue revolution Production in million tonnes Aquaculture will supply >60% of fish for human consumption by FAO Additional 30mill MT of aquaculture seafood production by 2030 World population in billions Aquaculture Wild capture Sources: FAO FishStat, UN World Population Prospects The 2017 Revision 5

6 Stable FishMeal Fishmeal global production has stabilised in recent years Aquaculture consumes 70% of total fishmeal production Future of aquaculture will trend in intensification of fish farming Most of the growth will come from farmed species which are carnivores. These trends will drive increasing demand for fishmeal 6

7 Why do we need to have alternatives to marine raw materials? They are not unlimited. They are finite. 7

8 S20 years ago... Yesterday... Today... Salmon diets are now flexible on marine ingredients use 30% 90% 100% 20 years ago Yesterday Today Fish meal Fish oil Alternatives 8

9 Infinity diet... Zero fishmeal zero fishoil 9

10 Raw materials in focus Fish meal and fish oil replacement Testing of existing raw materials Fish meal and fish oil replacement Testing of existing raw materials New raw materials Modification of raw materials 10

11 Drop in fishmeal supply triggered the development of alternative ingredients To offset the volatilities in FM supply, along with high prices, alternative ingredient in aquafeed formula are being explored Industry has increased the attention to utilisation of trimmings and by products There are novel ingredients besides vegetable-based protein meals and processed animal products ( PAP s) which can be included in fish feed. Among those alternatives are bacterial, insect-based protein sources and algal oils with very sustainable solutions 11

12 Fish feed producers are the link to surging demand Ingredient suppliers Raw material markets Fish feed producer Surging demand Farmers Innovation along the value chain

13 Norwegian salmon industry is highly innovative Challenges of growth due to disease has led government to reward innovative companies with new production licenses Traditional methods of farming are being challenged Land based and offshore farming close to reality - transfer of knowledge from oil industry in offshore is accelerating new solutions Success in new methods could fuel growth in Norway and other countries Today 13

14 Fisheries Improvement Plan A joint effort between private and public sector to address the challanges Peruvian anchoveta is one the most important single species fisheries worldwide (6 million MT) It is an important source of fishmeal and fish oil for the global aquaculture industry The FIP aims for the Peruvian anchoveta fishery to meet the full requirements of the FAO code of Conduct for responsible fisheries and supporting ecosystem needs In March 2017, the group successfully had the fishery enter into an official FIP. 14

15 Collaboration with Marine ingredient industry Marine ingredients industry may need to be more innovative to compete with growing demands of the aquaculture and competition of raw material Fish meal and oil producers have fueled the growth of the aquaculture industry for many years. Opportunities to continue with the increasing use of by products from trimmings and from aquaculture growth. 15

16 16 Thank you