The Chinese are looking for fish powder all over the world, buying large quantities in Vietnam

Fishmeal

China

Market & Price Trends

Published Mar 15, 2024

Tridge summary

El Nino weather conditions are expected to reduce Peru's anchovy production, leading to a 51% decrease in fishmeal exports to China in 2023, according to VASEP. This has prompted China to increase fishmeal imports from other countries such as Vietnam, India, Russia, the US, Myanmar, and Ecuador. Despite high prices, China's demand for fishmeal remains high due to its extensive livestock and aquaculture industries. However, alternatives often lack the necessary nutritional balance. The global fishmeal industry is unlikely to significantly increase production, even with higher prices.

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

According to VASEP, while fishmeal imports from Vietnam are increasing, in 2023, fishmeal imports from Peru to China will decrease by 51% to 430 million USD, due to El Nino weather reducing Peru's anchovy production. Previously, China depended on Peru - the source accounted for more than half of imported fishmeal, serving the country's huge livestock and aquaculture industries. Last year, China also bought a record 124,000 tons of fishmeal from India, mainly from small pelagics such as sardines and mackerel, more than doubling the volume by 2022. Imports from Russia increased 20% to 134,000 tons. Imports from the US, Myanmar and Ecuador also reached new highs. China is importing about 80 million tons of soybeans, an extremely large number. But they still need other proteins, including fishmeal. In Vietnam, MarinTrust's only sustainable fishmeal products are from tuna, shrimp and pangasius scraps -- not fishmeal from mixed fisheries or small forage fisheries. According to VASEP, ...

Source: Danviet