IFFO - The Marine Ingredients Organization reported a significant decline in global fishmeal and fish oil production in 2023, with a 23% and 21% drop respectively. The decrease is largely attributed to Peru's cancellation of its main anchovy fishing season in June 2023 and the impact of El Niño. Additionally, China, the largest fishmeal importer, experienced a reduction in imports due to oversupply, increased prices, and low demand. However, Europe saw a rise in fishmeal production, and Chile was the only country to increase its fish oil production.
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Global fishmeal and fish oil production dropped significantly in 2023.There was a 23 percent drop in fishmeal production and 21 percent decline in global fish oil production in 2023, according to IFFO - The Marine Ingredients Organization, a trade group representing companies accounting for a substantial amount of the world's fishmeal and fish oil output.The decline can be primarily attributed to Peru's June 2023 decision to cancel its main anchovy fishing season and fishing activities being impacted by El Niño. Peru typically accounts for around 20 percent of global fishmeal and fish oil production, but a drop in its fishmeal and fish oil production after Peru reported its 2023 anchoveta catch was down 52 percent year over year in 2023. Peruvian authorities will decide later this month on the quota for the first anchoveta fishing season of 2024.“Despite El Niño weakening, in the north-central area, the next acoustic research cruise for the first fishing season of 2024 is ...
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