As the fishing season in the northern waters concludes, the second round of the fishing season in the southern waters of the country has now begun.
The latest report from the International Fishmeal and Fish Oil Organisation (IFFO) shows that the cumulative production of fishmeal globally is set to decline at the beginning of 2025, primarily due to a drop in production in European countries, particularly in the Nordic region.
Although production has increased in other IFFO member countries, the region's performance has been lackluster, and coupled with a lower fish oil extraction rate in Peru, the total global fish oil production has slightly declined.
This trend contrasts with the IFFO's earlier prediction at the beginning of the year, which anticipated that the annual fishmeal production would reach 5.6 million tons, with fish oil production between 1.2 million and 1.3 million tons.