Fishmeal production in Peru was 1,408,481 tonnes in 2008, an increase of 0.7% over the previous year, Pablo Nano, senior analyst with Scotiabank has said.
Exports totalled 1.413 billion dollars during 2008, up 16.9% compared to 2007, with China, Germany, Japan and Vietnam the main destinations, he added.
However whilst exported volume rose by nearly a quarter or 24.3%, this increase was offset by a slight fall of 5.9% in the average export price.
The slight increase in production reflected a greater availability of raw materials, the anchovy, he said, citing Ministry of Production information.
During 2008, 6,116,428 tonnes of anchovy were caught, a 0.5% increase over 2007, in a year with normal oceanographic conditions.
The Peruvian fishmeal industry is made up of around 1,200 boats and 140 fishmeal producing plants distributed on the coast.
Looking ahead, fishmeal prices which started to rise in November 2008, and a government promise to increase the catch quota will likely pave the way for better production, predicted Humberto Speziani Cuevas, the president of the Fisheries and Aquaculture Committee of the Exporters Association (ADEX).
