Global fishmeal and fish oil production rises in first half of 2024 on Peruvian fisheries success

Published 2024년 8월 29일

Tridge summary

IFFO reports a significant increase in global fishmeal and fish oil production for the first half of 2024, with a 40% rise in fishmeal and a 10% rise in fish oil compared to the same period in the previous year. This surge is primarily due to a successful anchovy fishing season in Peru, which saw a quota of 2.475 million tonnes being exceeded within 40 days. However, IFFO also warns of declining fish stocks outside Peru, with reduced catches in Chile, lower quotas in northern Europe, and lower menhaden catches in the US. Production in China has also slowed down. Despite a drop in imports due to weak demand and high production costs, China's pig sector is recovering from the African swine flu pandemic, a condition that typically requires large amounts of fishmeal for feed.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

According to an analysis by IFFO, the Marine Ingredients Organization, global fishmeal production increased by 40 percent from January to June compared to the same period last year. Fish oil production also increased by 10 percent over the same period. According to IFFO, this increase was due to a successful fishing season in Peru, which has the world’s largest anchovy fishery. Peru’s Ministry of Production (PRODUCE) announced in April 2024 that it would open the North Central zone of its anchovy fishery with a quota of 2.475 million tonnes. The catch quickly approached that figure, and in just 40 days the total catch had already exceeded 2 million tonnes. This total was in stark contrast to the 2023 fishing season, when PRODUCE cancelled the main fishing season in the North Central zone to preserve the sustainability of the anchovy biomass. Stocks of fish used to produce fishmeal and fish oil outside Peru are expected to decline in 2024, according to IFFO. In Chile, catches fell ...
Source: Fishretail

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