Peru’s strong first anchovy season in 2024 has led to a significant increase in fishmeal production.
From January to July 2024, fishmeal output rose by nearly 36% compared to the same period in 2023, driven by a productive fishing season in the North-Centre of Peru. Fish oil production also increased globally by approximately 10% year-on-year through July 2024.
A scientific cruise is currently underway in Peru to assess the anchovy biomass in the North-Centre, with completion expected by mid-October. In contrast, catches of small pelagic fish in Chile and Northern Europe remain below last year’s levels. Menhaden fishing in the Gulf of Mexico continues to underperform, while landings in the Atlantic have exceeded 2023 levels.
These figures, provided by IFFO members, represent 55% of global marine ingredients production, spanning regions including Peru, Chile, Denmark, Norway, Iceland, the USA, and others.
In China, despite the end of fishing bans and increasing domestic production, fishmeal demand in aquaculture and pig farming remains weaker than expected. Port fishmeal stocks reached record levels in September, indicating slower-than-anticipated consumption, while plant-based feed ingredients like soybean and rapeseed meals are trading below last year’s prices.
This slowdown in demand for fishmeal is attributed to weaker conditions in both the aquaculture and pig sectors.
