Anchoveta catches in the north-central region of Peru have been the main reason for a remarkable 40% increase in global fishmeal production and a 10% increase in fish oil, according to the latest report from the Marine Ingredients Organisation (IFFO).
The organisation, which represents 55% of the world's marine ingredients production, says that despite the good news, the outlook in the various producing regions is mixed.
In Chile, catches in the southern zone are down on last year, while they are up in the northern zone. In Peru, despite the current ban on fishing in the north-central region, fishing is continuing in the southern part of the country, with 15% of the quota set so far being caught.
In Northern Europe, the availability of raw materials has decreased due to lower fishing quotas allocated in 2024 compared to 2023. Meanwhile, in the United States, although menhaden catches are increasing, they have not yet reached the levels observed in 2023.
In China, the recent lifting of the fishing ban in August has led to moderate expectations for local fishmeal and fish oil production for the remainder of the year in a context of low domestic demand and high production costs.Imports of these products have also declined in the first half of the year, reflecting an unfavourable market for the aquaculture sector. However, the Chinese pig sector, which had previously been a major consumer of fishmeal, is showing signs of recovery, with pork prices rising steadily in recent months.
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