Global fishmeal production drops in the first quarter

Published 2024년 5월 17일

Tridge summary

The IFFO, which represents 55% of global marine ingredients production, reported significant trends for early 2024. In Peru, nearly half of the anchovy quota was caught early, leading to a 27% drop in fishmeal and a 30% drop in fish oil production compared to 2023. Positive production trends were observed in Chile, the USA, and African countries. China experienced weak demand for feed ingredients due to a fishing ban, impacting imports and aquafeed production, although the pig sector showed signs of recovery. Additionally, imports of soybean and rapeseed into China declined year-on-year.

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

Original content

Based on its membership, which accounts for 55% of global marine ingredients production, the marine ingredients organisation, IFFO, has provided an update on the main trends observed from January to March 2024 in a selection of countries*. The update says: “In Peru’s North-Centre, almost 50% of the 2.475 million mt anchovy quota has been caught during the first 23 days of the 2024 first fishing season. Peru’s quota setting is of critical importance considering that the country accounts for 20% of global fishmeal and fish oil production in an average year. “When we look at the first three months of 2024, global fishmeal production dropped by approximately 27% compared to the same period in 2023. Such a decrease is driven by the early onset of the second fishing season in Peru’s North-Central region back in 2023, along with a lower-than-average granted quota, resulting in a diminished catch at the tail of the fishing season at the beginning of 2024. Chile, the USA and the African ...

Source: Fish Focus