So far close to 75 percent of the second fishing season’s 1.5 million tonnes quota has been landed in the North-centre of the country, reports IFFO. The early commencement - in October 2023 - of the second fishing season in the North-Centre area resulted in higher catches in November 2023 and contributed substantially to the overall surge in raw material usage. Larger catches were also reported in Chile and the North Atlantic region.
Fishmeal and fish oil production
Considering the countries analysed in the IFFO reports* (which make up 55 percent of global fishmeal and fish oil production), cumulative total fishmeal production during the first 11 months of 2023 was down by approximately 16 percent compared to the cumulative production reported through November 2022. The predominant factor contributing to this decline was the 41 percent year-on-year (YoY) decrease in Peru, whose activities were heavily affected by the El Niño phenomenon and the subsequent cancellation of the April-June first fishing season of the year.
As for fish oil, total cumulative output in the first 11 months of 2023 was almost 20 percent down YoY. The supply shortage in Peru (due to both fewer landings and lower oil yields) was again the main cause for such negative performance. Chile remained the only country that registered a positive change YoY, thanks to healthier catches and higher-than-average oil yields in the South of the country.
* Peru, Chile, Denmark, Norway, Iceland, UK, Ireland and Faroe Islands, USA, South Africa, Ivory Coast and Mauritius, Spain.
China imports less fishmeal
Total fishmeal arrivals into China have slowed down, not compensating for off-takes from the main ports' warehouses.
Off-takes of imported fishmeal from China’s main ports warehouses are being estimated at nearly 15,000 tonnes in week 2 2024, below the amount reported in week 1 2024, and the average estimated for the same week over the period of 2014-2023. Total fishmeal arrivals into China slowed down recently and are estimated to be smaller than the off-takes from ports’ warehouses. As a result, total stock of imported fishmeal has slightly decreased, although it remains above the average value reported for week 2 between 2019 and 2023.
