Peru fishmeal may return strongly in 2021, with pre-sales exceeding 200,000 tons in the first production season

Published 2021년 3월 2일

Tridge summary

In 2020, China's fishmeal imports exceeded 1.42 million tons for the first time, with Peruvian imports decreasing by 15% to 654,000 tons due to production issues, while imports from other countries like Chile, Mauritania, and Southeast Asian nations increased by 17% to 767,000 tons. The total cost of these imports surpassed $1 billion. Despite the shift to other sources, China's importers are willing to pay a premium for Peruvian high-quality fishmeal, which is not always available in other Asian countries. Peruvian exports to China accounted for 77% of the total in 2020, while European and American markets saw a decrease in sales. The article also discusses the classification of fishmeal based on quality and the pricing strategy used by traders to cater to different customers and market conditions.

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

Original content

According to customs statistics, in 2020, China imported about 1.42 million tons of fishmeal, of which about 654,000 tons were imported from Peru, a decrease of 15% compared to the previous year; imports from places of origin other than Peru reached 767,000 tons, an increase of 17%. Imports exceeded US$1 billion for the first time. But for now, the Peruvian fishmeal industry does not seem to worry about the Chinese market. James Frank, general manager of Peruvian fishmeal trading company MSICeres, told UCN: “The reason why China buys fishmeal from other countries is mainly because of Peru. Production is insufficient, especially in the second season of 2019. The catch is sluggish and the supply is quite tight.” From the data point of view, China imports more fishmeal than the other 12 countries (the largest fishmeal importer outside of China) combined. (Figure below), Chile, Mauritania and Southeast Asian countries have expanded their fishmeal exports year by year, and all of them ...

Source: Foodmate