FAO-Globefish expects fishery production to grow by 2.2% this year

Wild catches are expected to rebound by 1.1%, recovering from the impact of El Niño on Peruvian anchovy stocks in 2023. Peru has set an anchovy catch quota of more than 5 million tonnes for 2024, which will provide ample marine ingredients for aquafeed production, but global fish oil reserves remain limited. Aquaculture production is expected to grow by 3.1%, supported by increased production in China, India and Vietnam. In addition, good harvests of oil crops, cereals and marine ingredients may also reduce feed costs in the coming year. Despite a small increase of 1% in global trade volume, the value of fisheries trade is expected to fall by 1.2% in 2024, with major markets including the European Union, China, the United States and Japan expected to see a reduction in the value of imports due to low consumer confidence and economic uncertainty. Inflationary pressures have eased after what the International Monetary Fund (IMF) called a "substantial tightening" and the central ...