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IFFO’s analysis on marine ingredient market trends - June 2023 update

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Monday, June 05, 2023, 01:50 (GMT + 9)

A taste of the many statistics and analyses that can be found in the market intelligence reports that IFFO dedicates to its members is reported below, covering IFFO’s analysis on marine ingredient market trends until April 2023.

For the regions* for which IFFO regularly tracks production of marine ingredients, roughly worth 50% of the global output, IFFO reports that cumulative total fishmeal production during the first 4 months of 2023 was up by 30% compared to the cumulative production reported through April 2022. The main driver of this increase is the larger production of fishmeal in Peru due to the late start of the 2022 second fishing season in the North-centre area of the country. Spain was the only country to register a decrease in the fishmeal production year-over-year.

As for fish oil, total cumulative output in the first 4 months of 2023 was 7% down YoY, mainly driven by the drop in the fish oil production reported in the North European countries.

On 1st June 2023, the Peruvian authorities announced that the first fishing season of anchovy and white anchovy in the North-Centre of the country for the year 2023 will start with an exploratory fishing exercise of 7 days starting on 3rd June 2023.

The quota for this region has been fixed preliminarily at 1.091 million tons.

The fishing season will continue after the exploratory fishing if the findings allow it, and the quota could be changed depending on the new biomass evaluation.

This announcement is of strategic importance to the marine ingredients industry given that, on average, based on annual production figures over the last decade, Peru accounts for 20% of global fishmeal and fish oil production. 

* Peru, Chile, Denmark / Norway, Iceland / North Atlantic, USA, African countries, Spain.

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