Image: Alibaba / FIS
Global cumulative production of fishmeal and fish oil down
Tuesday, September 26, 2023, 07:00 (GMT + 9)
The raw material used by the countries under consideration in the IFFO report* was about 52% lower in July 2023 compared with the same month in 2022. This was due to fewer catches in all regions under consideration, with the exception of Iceland, the North Atlantic area, and African countries.
Cumulative total fishmeal production during the first 7 months of 2023 was down by approximately 31% compared to the cumulative production reported through July 2022. The decline by 76% YoY in Peru has to be considered the primary factor driving such a decline. As for fish oil, total cumulative output in the first 7 months of 2023 was 30% down YoY. Chile was the only country that registered a positive change YoY.
* Peru, Chile, Denmark, Norway, Iceland, UK, Ireland and Faroe Islands, USA, South Africa, Ivory Coast and Mauritius, Spain.
Source: Mukka -->
China: local demand for fishmeal for the time being remains subdued; increase of off-takes of imported fishmeal from ports warehouses
China’s final fishing ban was lifted on September 16th 2023 in specific areas of the Yellow Sea and East China Sea. Operations in the open fishing grounds have so far provided below par landings, comparable to those reported during the same period last year.
The current slowdown in fishmeal consumption is likely to be related to the imminent end of the main aquafarming season and to an expected lower-than-average demand of feed from the pig-farming sector.
Stocks of imported fishmeal are currently reported as being not far from the previous-5-years average, as the Chinese traders and end-users have so far managed to navigate through the drop in the Peruvian supply of fishmeal and fish oil by increasing their imports from other origins.
Off-takes of imported fishmeal from main ports’ warehouses are being estimated below the average of the previous 5 years.