February 12, 2004

Peru Fishmeal Output Set To Increase 33%

Peru fishmeal output is forecast to rise to 1.57 million metric tonnes, an increase of 33% compared to last year, amid speculation of higher anchovy catches, an industry group said on Wednesday.

"Last year was a bad year. We hope this year is better and the (anchovy) catch will be 30 percent higher than in 2003," Richard Inurritegui, head of the National Society of Fishing said.

Fishmeal production in 2003 fell 36 percent to 1.18 million tonnes, compared with 2002, he added.

Inurritegui said total fish exports generated $1.03 billion in 2003, 3 percent less than in 2002, according to the society's estimates. Fish exports in 2004 should be similar to last year, "above the $1 billion mark as long as international prices remain steady," he added.

Inurritegui expects the 2004 total fish catch to come in at 7.8 million tonnes, up from 5.92 million tonnes in 2003.