Peru's seafood exports plummet in April

Published 2024년 7월 18일

Tridge summary

The article highlights a significant decline in Peruvian seafood exports, driven mainly by a sharp drop in fishmeal sales and reduced demand from China, the primary export destination. From April 2023 to April 2024, fishmeal exports plummeted by 76.5% in volume and 76% in value. While fish oil exports experienced a slight decrease in volume but an increase in value, seafood exports for direct human consumption also saw a notable decline, with frozen products being the most affected. Conversely, canned product exports increased significantly. The article underscores the importance of Peru diversifying its export markets to lessen the impact of external market fluctuations.

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

Original content

The decline was mainly attributed to a 69.4% drop in exports for indirect human consumption and a 72.7% drop in exports for direct human consumption. In particular, a sharp drop in fishmeal sales led to poor performance in indirect consumption exports. Data showed that fishmeal exports fell from 44,500 tons (valued at $77.5 million) in April 2023 to 10,500 tons (valued at $18.6 million) in April 2024, a decrease of 76.5% and 76% respectively. China is the main export destination for Peruvian seafood, accounting for 89.9% of total exports, followed by Ecuador (5.1%) and Japan (5.0%). An industry insider said: " This reliance on China as the main export destination amplifies the impact of falling demand, underscoring the need for Peru to diversify its export markets and strengthen its seafood industry’s resilience to external market fluctuations.” In contrast, the situation for fish oil exports was more positive. While sales volume fell from 900 to 800 tons, sales increased by ...

Source: Foodmate