Global fishmeal and fish oil production drops by 52%

Dramatic drop in marine ingredients is due to cancellation of Peru's anchovy season, according to the Marine Ingredients Organisation (IFFO).
Vessels in the southern Peruvian sea. Photo by: Produce.
Vessels in the southern Peruvian sea. Photo by: Produce.

Raw material from marine ingredients such as fishmeal and fish oil dropped by 52% in July 2023 compared to the same month last year, according to The Marine Ingredients Organisation (IFFO).

The IFFO has released its latest analysis of market trends in marine ingredients, for the period January-July 2023.

The numbers reflect a drop in catches around the world, the IFFO says, with both fishmeal and fish oil production lagging behind last year's levels.

During the first seven months of 2023, total fishmeal production had fallen by around 31% compared with July 2022, while global fish oil production had dopped 30%.

Peru's cancelled anchovy season the "primary factor" driving decline

The dramatic drop in fishmeal production is associated with the situation in Peru, the IFFO notes.

Peru is one of the world's leading suppliers of fish oil and fishmeal, largely through its supply of anchovy, but this year had to cancel its anchovy season, a decision which was announced in June, leading the feed industry to brace for a challenging year.

As a result, Peru's output showed a dramatic drop of 76% year-on-year production of fishmeal, which the IFFO says "has to be considered the primary factor" behind the global decline in the marine product.

Meanwhile, China had also operated a fishing ban in certain areas of the Yellow Sea and East China Sea until 16 September, while Chinese open fishing grounds "provided below par landings", although still at levels similar to last year, the IFFO said.

Fishmeal consumption also undergoes slowdown, says IFFO

At the same time as fishmeal is in short supply, consumption of this marine product has also slumped globally during the first half of 2023, says the IFFO.

This is "likely to be related to the imminent end of the main aquafarming season and to an expected lower-than-average demand of feed from the pig-farming sector," the IFFO noted in a press statement.

Chinese companies normally reliant on Peruvian supply of fishmeal and fish oil have adapted to the situation, the IFFO says, by "increasing their imports from other origins".

About The Marine Ingredients Organisatio – IFFO

IFFO is an international trade organisation that represents the marine ingredients industry, such as fishmeal, fish oil and other related industries. IFFO's 250 members reside in around 50 countries, account for over 55% of world production and 80% of the fishmeal and fish oil traded worldwide. IFFO is an accredited Observer to the UN Food and Agriculture Organisation (FAO) and the International Maritime Organisation (IMO).

Related Stories

No stories found.