© SSP
Peru, a leading player in the fishmeal and fish oil market, has fulfilled nearly 20 percent of its 2.51 million-metric-tonne fishing quota in the North-Centre region since the season began on 1 November, according to the IFFO.
While fishmeal production saw substantial gains through the early months of 2024, fish oil output remained steady, with only a modest 1 percent increase year-on-year. Peru’s higher production nearly offset declines in other regions, highlighting its pivotal role in the global supply chain.
In China, fishmeal and fish oil production has been subdued due to reduced wild catches, with 2024 levels projected to fall below those of 2023. Despite this, China’s cumulative fishmeal imports through September increased, suggesting stockpiling ahead of the next aquaculture season.
For the remainder of 2024, aquaculture feed production is expected to decline compared to 2023, as the sector enters its seasonal low. However, fishmeal demand is anticipated to rebound with the start of the main aquaculture season in April 2025.
