Reduced fishmeal production leads to a sharp decline in fish exports from Peru

Published 2024년 6월 13일

Tridge summary

The article reports a significant decrease in the export volume and value of fish and fish products, with a 62.4% drop in volume and a 52.1% decrease in value compared to the previous year. The decline is attributed to a decrease in both indirect and direct human consumption products. Fishmeal exports saw a 58.1% and 57.5% decrease in volume and value, respectively, with China being the top destination. Fish oil exports also experienced a 58.2% drop in volume but saw a 5.1% increase in export values. Frozen food exports, which make up the majority of direct human consumption products, also saw a significant decrease due to a reduction in squid and mahi-mahi supplies. However, canned product exports experienced growth, driven by increased supplies of tuna and anchovies.

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Original content

This is 62.4% less in volume and 52.1% in value compared to the same period last year, respectively. According to the ministry, the decline was caused by a decline in exports of both products intended for indirect consumption (IHC) and direct human consumption (DHC), which fell by 57.6% and 49.9% to 66.4 thousand tons worth $157.4 million and by 70.2% and 53.8%. up to 35,000 tons worth $119.9 million, respectively. IHC's negative export performance is largely due to a significant drop in fishmeal production, Produce said. “In March 2023, fishmeal exports amounted to 140.1 thousand tons worth $241.2 million, while in March 2024 it fell to 58.7 thousand tons worth $102.7 million. This is a decrease of 58.1 % and 57.5%." China remained the top destination for these exports, accounting for 91.7% of the total value, followed by Japan (4.6%) and Hong Kong (2.6%). Fish oil sales also fell 58.2% to 2,700 tonnes, but were more expensive as export values rose 5.1% year-on-year to $36.5 ...

Source: Fishretail