Dollar Falls...Prices Rise
THE Australian dollar is lower after heavy falls on the US stock market on Friday night. This comes after a fortnight of below parity trading, putting pressure on imported goods, such as fish feed and the raw materials used to manufacture stock feeds in Australia.
Big Nutrition has refrained from increasing prices over the past 8 months due to the increase in fish meal prices from Chile and Peru; hoping the demand from China would stabilise, but the added cost of the weakened dollar has forced us to lift our prices in order to continue to survive as an importer and supplier of Aquaculture feed and equipment.
As the Northern hemisphere move into Summer, demand on all protein sources from China will no doubt increase putting further pressure on fishmeal prices. On the other hand, Taiwan’s Aquaculture industry is struggling in the face of wide spread disease issues predominately within their prawn farming sector. Due to this fact the demand on all proteins in Taiwan are significantly lower than normal. Because of this we have decided to return to our Lucky Star mill in Taiwan and source all fish feed from there for the foreseeable future. This will reduce the need to further increase prices and hopefully allows us to decrease our prices before Australia’s summer hits. All Lucky Star extruded prawn feed will continue to be sourced from our China mill.