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The global feed market experienced a moderate development in 2003. The conventional feed industry showed higher market activity in Eastern Europe throughout the year, and in the second Half also in South America, mainly in the field of new, large-capacity, automated lines to high standards. In Western Europe and North America, investment activity was low, but of high quality.
In the aquatic feed segment, market development varied considerably. Salmon feed producers continued to keep investments low due to surplus production and low salmon prices. Warm water aquatic feed industries, on the other hand, showed a trend towards increased investments, both in fish and shrimp production.
In the second Half of 2003 the project activity of medium-size private label pet food manufacturers increased, with a number of new production lines being initiated.
The market for biofuel (wood pellets and wood powder) continued to develop favorably in Northern Europe, Eastern Europe, and in North America. Other forestry regions - South America and South Africa - started pioneering in this environmentally friendly fuel niche, leading to overall satisfactory project activity.
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