October 3, 2024

Global fishmeal production rises by 36% amid surge in Peruvian supply

Fishmeal production saw a substantial increase of almost 36% in the first seven months of 2024 compared to the same period in 2023, due to a significant year-on-year increase in the supply from Peru, following a productive fishing season in the north-centre of the country, AquaFeed reported.

In addition, fish oil production also experienced growth, with global output through July 2024 approximately 10% higher compared to the previous year.

A scientific cruise is currently underway in Peru to assess the anchovy biomass in the north-centre region, with results expected by mid-October. However, in southern Chile and Northern Europe, the catch levels of small pelagic fish for marine ingredients remain below those recorded last year.

In the US, menhaden fishing in the Gulf of Mexico continues to underperform, while landings in the Atlantic fishing grounds have surpassed 2023 levels.

These figures are based on statistics provided by IFFO's members, who account for 55% of global marine ingredients production.

As fishing bans along China's coastline have been lifted, domestic production is gradually increasing. A peak in production is expected in the final quarter of 2024. Additionally, fishmeal imports into China have grown year-on-year through August, suggesting a build-up in stocks as the peak aquaculture season approaches.

In September 2024, fishmeal stocks in Chinese ports reached record levels, reflecting slower demand in both the aquaculture and swine farming sectors.

Meanwhile, prices of plant-based feed ingredients such as soybean meal and rapeseed meal in China have remained below last year's levels due to weak demand. Soybean imports for feed production have shown a year-on-year increase through August.

-      AquaFeed