Global fishmeal and fish oil production remains down in 2023

Published 2023년 11월 15일

Tridge summary

Global fishmeal and fish oil production have decreased in 2023, with fishmeal production down 26% and fish oil production down 21% in the first nine months of the year. The main reason for the decline is a 70% decrease in production in Peru due to the cancellation of the main anchoveta season. Only Chile has reported an increase in fish oil production due to improved harvests and higher oil yields. Additionally, an economic slowdown in China has resulted in weaker demand for fishmeal and fish oil in the country.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Lower fishmeal and fish oil production coincided with slowing Chinese demand in October 2023.While the use of marine raw materials remains in line with that of previous years, cumulative global fishmeal production during the first nine months of 2023 was down 26 percent year over year, according to IFFO, The Marine Ingredients Organization.The predominant factor behind the decline has been a 70 percent year-on-year production decrease in Peru, where the main anchoveta season was canceled in June 2023. Global fish oil production is down 21 percent year over year through the first nine months of 2023, with Chile the only country to report an annual increase, attributed to more robust harvests and higher-than-average oil yields.Improved catches in Northern Europe resulted in a 6 percent year-on-year increase in raw material usage globally in September 2023.IFFO’s data covers its members’ production in Peru, Chile, Denmark, Norway, Iceland, the United Kingdom, Ireland, the Faroe ...

Source: Seafoodsource