Photo: IFFO

IFFO: 'Strong Peruvian Catch Drives Global Fishmeal and Fish Oil Production Increase'

UNITED KINGDOM
Wednesday, February 05, 2025, 00:10 (GMT + 9)

Peru's second anchoveta fishing season in the North-center region concluded with a remarkable 96% quota fulfillment, totaling 2.42 million metric tonnes.

Fishing operations continue in the South. "This strong performance signals the industry's resilience following a 2023 season impacted by El Niño," noted Dr. Enrico Bachis, IFFO's Market Research Director. In a typical year, Peru contributes approximately 20% of global fishmeal and fish oil production.

IFFO's 2024 Production Estimates

IFFO's market intelligence reports* indicate a 26% year-on-year increase in cumulative fishmeal production across the analyzed countries. This substantial growth is primarily attributed to the recovery of Peruvian landings, which were severely affected by El Niño in 2023. Peru's increased supply has more than compensated for production declines in other regions. Europe experienced the most significant year-on-year decrease, with a reduction of over 100,000 metric tonnes compared to 2023.

<-- Photo: IFFO

Cumulative fish oil production for 2024 is estimated to be up 12% year-on-year. This more moderate growth reflects the fact that Peru's significant recovery in fish oil supply was partially offset by substantial reductions in Chile and Europe. While the USA and African countries reported year-on-year increases, their relatively small production volumes had limited impact on the overall performance of the regions tracked by IFFO.

*Data based on statistics provided by IFFO members in Chile, Denmark, the Faroe Islands, Iceland, Ivory Coast, Mauritius, Norway, the UK, the USA, Peru, South Africa, and Spain, representing 40% of global fishmeal production and 50% of fish oil output.

Source: IFFO

[email protected]
www.seafood.media

Print