News

Global fishmeal and fish oil production showed a downward trend in the first 10 months of this year

Fish Oil
Chile
Market & Price Trends
Fishmeal
Agricultural By-products
Denmark
Published Nov 21, 2023

Tridge summary

Global fishmeal and fish oil production decreased in October 2023 due to a decline in demand from China. The main factor in the reduction was a 70% year-on-year decrease in Peruvian production, as the fishing season was canceled in June 2023. However, there was a 6% year-on-year increase in global fish oil raw material use in September 2023, driven by improved fishing in Northern Europe. Additionally, China's cumulative fishmeal imports decreased by 8% as of September.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

News from SeafoodSource on November 16 that in October 2023, a decline in global fishmeal and fish oil production coincided with a slowdown in demand in China.

IFFO, a marine raw materials agency, stated that although the use of marine raw materials remains consistent with previous years, global cumulative fishmeal production in the first nine months of 2023 decreased by 26% year-on-year. The main factor in the reduction was that Peruvian production fell by 70% year-on-year. Peruvian anchovies The fishing season is canceled in June 2023.

In the first nine months of 2023, global fish oil production decreased by 21% year-on-year, with Chile being the only country to report annual production growth. At the same time, improved fishing in Northern Europe prompted global fish oil raw material use to increase by 6% year-on-year in September 2023.

IFFO's data covers production by its members in Peru, Chile, Denmark, Norway, Iceland, the United Kingdom, Ireland, the Faroe Islands, the United States, South Africa, Côte d'Ivoire, Mauritius and Spain.

As of September, China’s cumulative fishmeal imports have decreased by 8%.
Source: Foodmate
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