Global fishmeal production soars

Published 2024년 9월 6일

Tridge summary

IFFO reports a significant increase in the production of fishmeal and fish oil in the first half of 2024, with a 40% rise in fishmeal production and a 10% increase in fish oil production compared to the same period in 2023. This surge is primarily due to increased catches in North-Centre Peru, despite a fishing ban, and smaller landings in Chile. However, Northern Europe has seen a decrease in available raw materials due to lower quotas. The USA is showing signs of improvement in menhaden catches, albeit not reaching 2023 levels. Despite China lifting its fishing ban, local producers are hesitant about the potential production levels for 2024 due to weak demand and high production costs, leading to bearish market conditions. Conversely, the pig sector is recovering, with rising pig prices.

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

Original content

Fishmeal production soars. In the countries analysed by the marine ingredients organisation, IFFO, it reports* the overall production of fishmeal between January and June 2024 was up by 40%, while that of fish oil was up by 10%, compared with the same period of last year. This was thanks to the increased catches in the North-Centre of Peru, where operations are currently under a fishing ban. Only Peru’s southern fishing grounds are currently open to operations, with 15% of the quota landed so far. In Chile, landings in the first 6 months of 2024 have decreased, year on year, in the South, while they are up in the North of the country. In Northern Europe, the volume of available raw materials is down, year on year, as expected due to the lower quotas granted in 2024 vs 2023. As for the USA, menhaden catches continue to progress, although they remain below the levels reported in 2023. These data are based on statistics shared by IFFO’s membership, which accounts for 55% of global ...

Source: Fish Focus