August 24, 2010

 

Peruvian fishmeal exports seen to surpass 2009 records

 

 

Peru's National Fisheries Society (SNP) predicts that this year foreign shipments of fishmeal will exceed the US$1.428 million achieved in 2009.

 

According to SNP president Humberto Speziani, the increase in exports has been achieved owing to higher prices, but production is set to fall due to lower fishing quotas allocated by the government.

 

Official figures showed that the country produced 1.35 million tonnes of fishmeal last year. This produce is essential to develop feed for animals such as pigs, cattle and poultry as well as in the aquaculture industry.

 

For the rest of the year, Speziani anticipated that the international price of fishmeal will fluctuate between US$1,400 and US$1,500, compared to an average of US$926 in 2009. After the earthquake in Chile in February, the price of this product increased to US$1,900.

 

He also noted that the higher price of material is due to the sustained demand from China, the destination of nearly 50% of Peruvian exports of fishmeal.

 

In April, analysts estimated that this year, foreign shipments of fishmeal from Peru would mark a record high of US$1.845 million, representing 30% more than in 2009.

 

Analysts said the increase would be produced by the higher average export price (40% higher), which was partially offset by a decrease of 8% in the volume exported.

 

During 2010, analysts estimate that the average export price is around US$1,300 per tonne, in line with rising international prices, which would record an average of US$1,600 per tonne.

 

Meanwhile, Speziani recalls that companies are making changes to their plants to meet with international environmental standards required by central government, by 2014. Also, the ecological investment that the industry needs to make amounts to around US$200 million, he explained.

 

With regard to the possibility that the local fisheries Technologia de Alimentos SA (TASA) buying a salmon plant in Chile, Speziani said that the firm has suspended that business for the time being.

 

As indicated by the latest Statistical Bulletin prepared by the Ministry of Production (Produce), in June 2010, 109,000 tonnes of fishmeal were exported, while in the same month last year this figure was 254,400 tonnes, a decrease of 57.2%.

 

With regard to value, in the sixth month of this year US$178.8 million of fishmeal was exported, 21.9% less than in June 2009 when the figure totalled US$228.8 million. June exports increased foreign sales of fishmeal in the first six months to US$780.9 million, up 1% over the same period in 2009 (US$773 million).