Global fishmeal and fish oil production up in H1 2024 thanks to successful fishing in Peru

Published 2024년 8월 26일

Tridge summary

In 2024, global production of fishmeal and fish oil has seen a significant increase, primarily due to a successful anchovy-fishing season in Peru. Fishmeal production has seen a 40% rise in the first half of the year, while fish oil production has increased by 10%. However, supplies of fish for these productions have decreased in other regions such as Chile, Northern Europe, and the U.S. due to various reasons like lower quotas and slower catch rates. In China, while the pig sector is recovering, imports of fishmeal and fish oil have been low due to weak demand and high production costs. The data for these trends is compiled by IFFO – The Marine Ingredients Organization, representing 55% of the global marine ingredients production.

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

Original content

Global production volumes of both fishmeal and fish oil are up year over year in 2024, largely due to a successful Peruvian anchovy-fishing season. According to analysis by IFFO – The Marine Ingredients Organization, global fishmeal production between the months of January and June was up by 40 percent compared to the same period last year. Production of fish oil was also up, rising 10 percent in the same period. Those increases, IFFO said, were thanks to a successful fishing season in Peru, which has the world's largest anchovy fishery.Peru’s Production Ministry (PRODUCE) announced in April 2024 that it would open the North-Central zone of its anchovy fishery with a 2.475-million-metric-ton (MT) quota. Catch totals quickly approached that amount, and in just 40 days, the total catch had already exceeded 2 million MT. That total was a stark contrast to the 2023 fishing season in which PRODUCE canceled the main fishing season in the North-Central zone in order to maintain the ...

Source: Seafoodsource