Vietnam and Russia fill China's fishmeal shortage as imports from Peru fall 51%

Published Feb 21, 2024

Tridge summary

In 2023, China's fishmeal imports from Peru, its main supplier, dropped by over 50% to 430,202 tonnes due to an El Niño-induced anchovy shortage. This led to an increase in production from other countries like Vietnam, Russia, Thailand, and India, resulting in a 29% rise in China's fishmeal imports outside Peru to 1.2 million tons. However, this could potentially lead to overexploitation of fish stocks. The average import price of fishmeal in China reached a record high since 2000, at US$1,766 per tonne.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

China has historically received more than half of its imported fishmeal from Peru, which is used to feed its huge livestock and aquaculture industries. But last year, China's fishmeal imports from Peru fell more than 50% to 430,202 tonnes after an El Niño-driven shortage of anchovies led to a drop in production. With Peru struggling, other leading suppliers such as Vietnam, Russia, Thailand and India have increased production to fill the vacuum. In 2023, China's fishmeal imports outside Peru rose 29% to 1.2 million tons, a new record. As demand in China begins to regularly outpace Peru's capacity, especially as catches fluctuate, other regions have the opportunity to develop their own fishmeal resources. "China's protein needs are still rising from already very high levels," Jean-Francois Mitten, an industry analyst, told Undercurrent News. “However, this can lead to overexploitation of fish stocks if they are not managed properly,” he said. -Of course, with high prices for ...
Source: Fishretail
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