FAO-Globefish expects fishery production to grow by 2.2% this year

Published 2024년 12월 16일

Tridge summary

Peruvian wild catches are projected to recover by 1.1% in 2023, rebounding from the effects of El Niño on anchovy stocks, with a catch quota of over 5 million tonnes set for 2024. Aquaculture production is anticipated to grow by 3.1% in 2024, aided by China, India, and Vietnam. Despite a slight increase in global trade volume, the value of fisheries trade is expected to decrease by 1.2% in 2024 due to reduced consumer confidence and economic uncertainty. Inflationary pressures have eased, leading to the lowest borrowing costs since the 1970s, but the consumption of aquatic food remains sluggish due to high sea temperatures causing disruptions to marine ecosystems and global catches, resulting in increased commodity prices. The fishery sector is still struggling to recover from the impacts of recent climate events, with accumulated losses to the Alaska seafood industry totaling $1.8 billion and an additional $4.3 billion in losses to U.S. GDP.

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Original content

Wild catches are expected to rebound by 1.1%, recovering from the impact of El Niño on Peruvian anchovy stocks in 2023. Peru has set an anchovy catch quota of more than 5 million tonnes for 2024, which will provide ample marine ingredients for aquafeed production, but global fish oil reserves remain limited. Aquaculture production is expected to grow by 3.1%, supported by increased production in China, India and Vietnam. In addition, good harvests of oil crops, cereals and marine ingredients may also reduce feed costs in the coming year. Despite a small increase of 1% in global trade volume, the value of fisheries trade is expected to fall by 1.2% in 2024, with major markets including the European Union, China, the United States and Japan expected to see a reduction in the value of imports due to low consumer confidence and economic uncertainty. Inflationary pressures have eased after what the International Monetary Fund (IMF) called a "substantial tightening" and the central ...

Source: Foodmate