Peruvian fishmeal output seen steady in 2010

Fishmeal production for 2010 in Peru has been estimated at 1.40 million tonnes, about the same as 2009.

However, exports are expected to decline slightly to 1.3 million tonnes.

There is a great deal of uncertainty in Peru about the final figure for the fishing quota for next season, which will begin in late April or early May.

It is speculated that the quota may be reduced by about 500,000 tonnes compared with the 2009 quota, which will result in lower availability of about 125,000 tonnes of fishmeal in the market.

A stronger than expected El Niño is likely to impact the anchovy resource, resulting in a lower quota this year.

Earlier in March, a free-trade agreement (FTA) between Peru and China came into force, 15 months after both countries wrapped up talks to seal the trade deal. According to reports, the trade pact with China will immediately eliminate duties on 61.2% of Peruvian exports to the Asian country. More than 94% of Peruvian exports will immediately receive some type of trade benefit.