Global Fishmeal Update in Jan-24: Peru's North-Centre Season Concludes with 75% Quota Harvested, China's Stocks Exceed Five-Year Average, and Subdued Operations in Chile and Northern Europe

The second fishing season in Peru's North-Centre region concluded on January 13, 2024, with approximately 75% of the 1.682 million metric ton (mmt) quota already harvested. In China, off-takes of imported fishmeal from port warehouses were reported at around 14 thousand mt in W2, resulting in total stocks of 222 thousand mt, above the previous five-year average of 163 thousand reported for W2. Meanwhile, Chile experienced minimal changes in available raw material, with operations remaining subdued week-on-week (WoW). During W1, operations in Northern Europe were limited, with Denmark and Norway recording no catches, reflecting the typical slow start that characterizes the beginning of the year.