Aquaculture for all

Fishmeal and fish oil production falls by a quarter

Fish stocks Feed ingredients +3 more

Cumulative total fishmeal production during the first eight months of 2023 was down by approximately 28 percent compared to the the same period in 2022.

a shoal of small fish
Forage fish such as anchovies are converted into fishmeal and fish oil, the majority of which is used in aquafeeds

IFFO's statistics cover marine ingredient landings in Peru, Chile, Denmark, Norway, Iceland, UK, Ireland, the Faroe Islands, USA, South Africa, Ivory Coast, Mauritius and Spain.

The latest statistical breakdown from IFFO notes that: “The predominant factor contributing to this decline must be attributed to the 70 percent YoY decrease in Peru.”

In terms of fish oil, total cumulative output in the same period declined by 24 percent. Chile was the only country that registered a positive change, according to IFFO, thanks to healthier catches and higher-than-average oil yields in the south of the country.

The marine ingredients trade body notes that the Chinese aquaculture supply chain is currently grappling with increasing feed costs and weakening seafood demand.

“This can be attributed to the unstable global supply of feed ingredients and falling farm-gate prices for many species, stemming from unforeseen shifts in domestic demand,” it says.

Meanwhile, the country’s pig sector – the world’s largest non-aquaculture-related market for marine ingredients – continues to confront difficulties due to decreased demand for pork during the summer months.

“Although pig prices experienced a slight recovery recently in August, the pig market is expected to remain oversupplied throughout the remainder of 2023, largely due to the substantial sow stock,” IFFO concludes.

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