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Even in less turbulent times, animal feed prices are a significant production expense � representing about 70% of livestock production costs. As 2023 gets underway, achieving production margins has become even more complex amid a "perfect storm" of conditions that are threatening producers' profitability.
Considering the high price of fish meal and the shortage of natural resources, it has become a general trend to use other protein ingredients to reduce the use of fish meal in aquafeed.
Multifold incidents such as supply chain interruption, climate changes, the Ukraine war, and fluctuating COVID outbreaks in different regions, are all contributed to the current volatility in feed ingredients prices. Unfortunately, the recent forecast indicates that the high feed ingredient price won't be stabilized in the near future.
Many stressors are associated with intensive rearing practices in poultry production systems, one of which is mycotoxins. Mycotoxins are natural toxic secondary metabolites produced by fungi that can be found in feedstuffs such as cereal grains and their by-products.
Recent disruption in the global supply chain and pressure from international carbon neutral policies have significantly reduced the supply of inorganic phosphorus (P) to the Asia-Pacific region.
Livestock and poultry feeds and its raw materials are susceptible to fungal/mold colonization. Major plant-based animal feed raw materials around the world include maize, wheat, broken rice, millets, soybean meal, sunflower meal, rapeseed meal, rice bran, wheat bran, and DDGS.
In the past 3 months, we have experienced a big surge in prices of raw materials especially for corn and soybean meal. In a span of five years, the price of soybean meal at the last quarter of 2020 has been the highest so far. The same scenario with corn price which reveals that the price in last quarter 2020 has been the second highest in the last 5 years.
The outbreak of African swine fever (ASF) has caused a huge impact on China's pig industry. Pig stocks are falling off a cliff, while prices are continuing to soar. With the strong support of the government, many farmers have begun the preparatory work for the recovery of pigs, and many of them have successfully recovered from the disease.
The global market price of inorganic phosphorus has increased significantly due to regional and international supply chain disruptions with outbreak of COVID-19. Therefore, it is timely to revisit dietary strategies to reduce use of inorganic phosphorus in feed formulation to minimise the economic impact of increasing phosphorus prices.
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