Global: Chile, USA, and African countries increased fishmeal production

Published May 15, 2024

Tridge summary

A report from IFFO for the first quarter of 2024 reveals a decline in global fish oil and fishmeal production. Fishmeal production fell by 27%, with Chile, the US, and some African countries being the exceptions. The decrease is linked to the early start of the second fishing season in north-central Peru and a below-average quota that limited catch. Peru, a significant producer, accounts for 20% of the world's annual production. Fish oil production also decreased by 30%, except in the US and some African countries. The El Niño phenomenon in 2023 significantly affected fishing in Peru. Additionally, demand for feed ingredients in China is weakening, with fishmeal imports falling in March 2024 due to a fishing ban, leading to lower aquafeed production forecasts for the first quarter of 2024.

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

Original content

The report examines global fish oil and fishmeal production trends for the first three months of 2024. The focus was on key regions such as Peru, Chile, Denmark/Norway, Iceland/North Atlantic, USA, some African countries and Spain. From January to March 2024, Chile, the United States and some African countries showed an increase in fishmeal production compared to 2023, indicating a positive trend. In contrast, global fishmeal production has fallen significantly, with it down 27% in the first three months of 2024 compared to the same period last year. This decline was influenced by the early start of the second fishing season in north-central Peru in 2023, as well as a below-average quota that limited catch at the end of the fishing season in early 2024. The IFFO report highlights the critical role of Peru, where nearly 50% of the 2.475 million tonne anchovy quota was caught in the country's northern region during the first 23 days of the first 2024 fishing season. Peruvian ...

Source: Fishretail