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Home Aquaculture

Global fishmeal and fish oil production down

According to IFFO reports, which include key countries such as Peru, Chile, Denmark, Norway and others, cumulative fishmeal production in the first 9 months of 2023 decreased by 26% compared to the same period in 2022. The main reason for this decrease is the significant annual reduction in production in Peru, which recorded a 70% drop.

Davide Ciravolo by Davide Ciravolo
November 20, 2023
in Aquaculture, Innovation, News
Reading Time: 2 mins read
0
Global fishmeal and fish oil production down

Global fishmeal and fish oil production down

Global fishmeal and fish oil production down – The Marine Ingredients Organisation (IFFO), a leader in global monitoring of marine ingredient production, recently announced that cumulative global fishmeal and fish oil production through October 2023 remained low, maintaining the trend of previous years.

Cumulative fishmeal production

According to IFFO reports, which include key countries such as Peru, Chile, Denmark, Norway and others, cumulative fishmeal production in the first 9 months of 2023 decreased by 26% compared to the same period in 2022. The main reason for this decrease is the significant annual reduction in production in Peru, which recorded a 70% drop.

Cumulative fish oil production

Similarly, cumulative fish oil production in the first nine months of 2023 decreased by 21% year-on-year. Chile is the only country that recorded a year-on-year increase.

Chinese raw material utilisation and imports

As of September 2023, the use of raw materials by the countries considered in the IFFO reports was in line with the average for 2014-2022. Overall, raw material utilisation increased by 6% compared to September 2022, mainly due to improved catches in northern Europe.

In the context of Chinese imports, fishmeal decreased by 8.7% year-on-year to September. This decline is attributable to weaker domestic demand from feed producers, as well as lower global supply.

Challenges facing the aquaculture sector in China

The IFFO explains that the Chinese aquaculture sector is facing several challenges, including environmental pressure, technological challenges and intense competition between feed mills and aquaculture producers. This situation has led to overcapacity and oversupply, contributing to the decline of fishmeal imports into China.

Global fishmeal and fish oil production shows signs of slowing down, with China facing domestic challenges in the aquaculture sector. The Marine Ingredients Organisation’s analysis provides an in-depth look at the current situation, highlighting key factors affecting the fishmeal market.

 

Tags: aquacultureblue economyblue transformationfish mealfish oil
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