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Fishmeal and fish oil consumption drops by a third

The Fish Site
by The Fish Site
10 September 2021, at 7:20am

The tonnage of fishmeal and fish oil (FMFO) consumed during July 2021 was 35 percent lower than in the same month last year, according to the latest statistics from the IFFO.

The latest IFFO report, released this week, states that this is “mainly due to the fact that the first fishing season in Peru in 2020 stretched well into July (as operations only started on May 13th 2020), whereas this year the month of July only captured the tail end of the North/Centre fishing season. The Iceland/North Atlantic area, the USA and India improved their performance year on year, but this was not enough to off-set the loss in Peru, Denmark/Norway and the African countries.”

Fishmeal is still a key ingredient in feeds for many farmed aquatic species
Fishmeal is still a key ingredient in feeds for many farmed aquatic species

However, the total cumulative productions of the countries that IFFO covers in its report were higher year-on-year during the first seven months of 2021 – with production of fishmeal up by 8 percent and fish oil up by 17 percent.

In terms of fishmeal, Peru, Chile and India were the only countries to report a higher cumulative production during the first 7 months of 2021 with respect to the period January-July 2020. In terms of fish oil, Peru, Chile, India and the Iceland/North Atlantic area were the regions that managed to improve their cumulative production during the first seven months of 2021.

China’s domestic fishmeal output remains low during the fishing ban, while imported fishmeal stocks reach record levels.

“Domestic fishmeal production between May and September relies only on by-products, thus volumes remain subdued. All fishing grounds (with the exception of the South China Sea) will remain under a fishing ban until September,” the report notes.

Shipments of imported fishmeal continue to grow, with record-high stocks in the ports´ warehouses.

Prices

The report notes that aquafeed output has increased this year, while the pig feed sector has recovered to levels not seen since the African swine fever (ASF) pandemic prompted mass culls of livestock in many regions.

“The average price of aquatic products continues to rise year on year, supported by healthy trading volumes. Recently, even shrimp prices have started to move up, thanks to the improved demand. Aquafarming remains in its seasonal peak, with aquafeed output on the rise again in July 2021. The pig inventory appears to have recovered to the official levels reported back in 2017. The increased cumulative pig feed output through July suggests the sector continues its recovery with respect to the levels reported during the previous three years,” states the report.