Global fishmeal production was down 27 percent in the first quarter of 2024, but trending positive for the rest of year

Published 2024년 5월 10일

Tridge summary

In the first quarter of 2024, global fishmeal production saw a significant decrease of around 27 percent, largely due to a below-average quota during the second fishing season in Peru's North-Central region in 2023, leading to reduced catches. This decline has had a domino effect, with China in particular facing weak demand for feed ingredients and a decrease in fishmeal imports. However, early in the 2024 fishing season, Peru has caught about half of its anchovy quota, indicating a potential positive trend. Additionally, fish oil production also fell by 30 percent in the same timeframe, though the U.S. and African countries have shown signs of recovery. The aquaculture industry is currently facing challenges in reducing stocks due to low consumer demand, but there is optimism for a recovery in the pig sector in the second quarter of 2024.

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

Original content

Global fishmeal production decreased approximately 27 percent within the first three months of 2024, compared to the same period in 2023. The decline was driven by the the second fishing season in Peru's North-Central region in 2023, which had a below-average quota. That lower quota lead to reduced catches at the start of 2024, according to IFFO, The Marine Ingredients Organization. The Peruvian anchovy fishery closed its second season on 12 January, and left 25 percent of its quota in the water. That compounded earlier shortages caused by the cancelation of the first season of 2023. The sluggish start to 2024 is trending positive thanks to the latest fishing quotas for Peru's anchovy fishery. In Peru’s North-Central region, approximately 1.2375 million metric tons (MT), or 50 percent, of the 2.475 million (MT) anchovy quota has already been caught within the first 23 days of the 2024 fishing season. So far this year, Chile, the U.S., and African countries have been showing more ...

Source: Seafoodsource