In the countries analysed in the IFFO reports*, the overall production of fishmeal between January and June 2024 was up by 40%, while that of fish oil was up by 10%, compared with the same period of last year. This was thanks to the increased catches in the North-Centre of Peru, where operations are currently under a fishing ban. Only Peru’s southern fishing grounds are currently open to operations, with 15% of the quota landed so far.
Copyright: IFFO
In Chile, landings in the first 6 months of 2024 have decreased, year on year, in the South, while they are up in the North of the country.
In Northern Europe, the volume of available raw materials is down, year on year, as expected due to the lower quotas granted in 2024 vs 2023.
As for the USA, menhaden catches continue to progress, although they remain below the levels reported in 2023.
These data are based on statistics shared by IFFO’s membership, which accounts for 55% of global marine ingredients production*.
* Peru, Chile, Denmark / Norway, Iceland / North Atlantic, USA, African countries, Spain.
China’s fishing ban just lifted, lower trend in the use of marine ingredients
While China’s fishing ban was lifted mid-August, local producers of fishmeal and fish oil remain cautious about domestic potential production levels for 2024.
Official statistics from China suggest an annual decrease in the cumulative fishmeal and fish oil imports through June due to weak demand of aquafeed and high production costs. Overall, the bearish market conditions are likely to persist through the year 2024.
In contrast, the pig sector, which used to consume significant amounts of fishmeal, continues its recovery, with pig prices rising steadily over the past months.
Read more HERE or visit the IFFO website HERE.
The Aquaculturists
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