Fishmeal, fish oil production falls

According to IFFO, the primary factor contributing to this decline is the 52% year-over-year decrease in Peru, whose fishing activities were heavily affected by the El Niño phenomenon, including the cancellation of the April-June fishing season in the North-centre, and a lower-than-average fishing quota for the last quarter of the year.

The organisation notes the European countries analysed in this report were the only ones to show an increase in cumulative fishmeal output in 2023.

Meanwhile, the total output of fish oil was down by 21% compared to the previous year. The significant supply drop in Peru (down by 85% year-on-year) was the main cause of this negative performance, resulting from both fewer landings and lower oil yields.

Chile was the only region that managed to register a year-over-year increase in production, thanks to healthier catches and higher-than-average oil yields in the southern regions.

IFFO advised that in Peru, which accounts for 20% of global fishmeal and fish oil production in average years, recent observations show unexpected sea warming off Peru’s central coast, despite El Niño weakening.

In the North-Centre area, the next acoustic research cruise for the first fishing season of 2024 is expected to commence mid-February.

IFFO’s reporting covers Peru, Chile, Denmark, Norway, Iceland, UK, Ireland and Faroe Islands, US, South Africa, Ivory Coast, Mauritius and Spain.