March 9, 2011

 

Peru forecasts fishmeal output hike

 

 

Peru's National Fisheries Society (SNP) projects that fishmeal production will improve in 2011 after suffering a sharp decline in 2010 due to the impact of climatic conditions.

 

According to Richard Inurritegui, general manager of the SNP, the production of fishmeal will return this year to the level reached in 2009, 1.35 million tonnes.

 

Last year, fishmeal production dropped by 42% to 786,000 tonnes.

 

"With regards to landings of fishery resources, there has been a significant reduction compared to the previous year, as the amount of anchovy fished reached 3.4 million tonnes versus almost six million last season," said Inurritegui.

 

"This is fundamentally a biological issue during late 2009, due to a warming effect resulting in a delay in spawning," continued the SNP leader.

 

According to official data, despite the decline in production volume, the export value of fishmeal grew by 13% year on year in 2010 to US$1.6 billion, thanks to a significant rise in prices.

 

Last year, the price of a tonne of fishmeal averaged around US$1,480, while in 2009 it cost just US$900, recalled Inurritegui.

 

Currently, 64% of Peruvian fish exports consist of fishmeal.

 

The SNP is expects that during the current year, Peruvian exports of all fisheries products will reach between US$2.5 billion and US$2.6 billion.

 

The latest Statistical Bulletin prepared by the Ministry of Production (Produce) indicates that in November 2010, 13,000 tonnes of fishmeal was exported, which is 58.2% less compared to the 31,100 tonnes exported a year earlier.

 

In terms of value, in November 2010, fishmeal was exported for a total of US$18.4 million, 49.1% less than in November 2009 when the figure totaled US$36.1 million.

 

Between January and November 2010, 1,036,100 tonnes of fishmeal was exported, 26.4% less than the same period of 2009. The value of these shipments was US$1.5 billion, up 22.8% over the same period in 2009 (US$1.3 billion).

 

The main markets for Peruvian fishmeal were China, Germany, Japan, Vietnam, Taiwan and UK, which bought around 84.4% of the total sales through November 2010.