Global fishmeal and oil market, prices are rising amid declining production

Published Jun 4, 2024

Tridge summary

The global market for fish oil and fishmeal, crucial for livestock and fish farming, is experiencing significant instability due to a decrease in supply, especially with a reduced anchovy catch in Peru. This has led to a surge in prices, which remain high despite some market stabilization. The volatility has prompted farmers to reassess feed formulations, especially with challenges in pork and shrimp prices. Amidst this, Russia is strengthening its position in the market, increasing its production and investing in processing facilities to meet the growing demand in Asia.

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

Original content

Fish oil and fishmeal are one of the main feed elements in livestock and fish farming. Their price has risen sharply due to a decrease in supply. By the end of last year, the situation had stabilized, but the cost still remained at a level significantly higher than consumer expectations. Let us recall that the output of these products decreased due to a decrease in the catch of one of the main types of raw materials - anchovy - in the main producing countries. Thus, in Peru, the maximum production volume in the second season of 2023 (started in October) was reduced by 800 thousand tons compared to the same period in 2022. At the same time, Peruvian fishermen were able to master the quota by only 75% - the warm waters of El Niño led to the fact that the anchovy moved to less accessible areas for fishing. In Chile, the catch has been stable because the fishery is further south than Peru. Chilean fishermen produced about 1.6 million tons, which is only 2% below the level of the year ...

Source: Fishretail