Page 23 - Think Grain Think Feed-Jan24

www.benisonmedia.com INDUSTRY NEWS Fishmeal and Fish

Think Grain Think Feed - Volume 10 | Issue 3 | Jan 2024

Oil Production Forecast

Image Source: aquafeed.com exception, registering a
positive change year-on-year
thanks to healthier catches
and higher-than-average oil
yields in the southern region
of the country.
The countries analyzed in the
IFFO reports include Peru,
Chile, Denmark, Norway,
Iceland, UK, Ireland, Faroe
Islands, USA, South Africa,
Ivory Coast, Mauritius, and
Spain.
China Faces Slowdown in
Fishmeal Imports
In parallel with this global
decline in raw materials,
China, a major player in the
fishmeal market, is
Latest reports from the severely impacted Peru's experiencing a slowdown in
International Fishmeal and fishing activities during 2023, fishmeal imports.
Fish Oil Organization (IFFO), leading to the cancellation of
Off-takes of imported
covering key nations the April-June first fishing
fishmeal from China's main
representing 55% of global season. This setback had a
port warehouses are
fishmeal and fish oil substantial ripple effect on
estimated at nearly 15,000
production, reveal a overall global fishmeal
metric tons in week 2 of
concerning downward trend. production, the IFFO notes.
2024. This figure is below the
Cumulative total fishmeal In recent days, Peru has also amount reported in week 1
production during the first closed its second fishing of the same year and falls
11 months of 2023 saw a season with only 75% of the short of the average
significant dip of quota captured. estimated for the same week
approximately 16%, in Fish oil output decreased by over the period of 2014-
contrast to the production 20% YoY 2023.
reported through November
Fish oil fared no better in The total fishmeal arrivals
2022, the IFFO said in a press
2023, with a nearly 20% into China have recently
release.
year-on-year decrease in slowed down, failing to
El Niño severely impacts total cumulative output compensate for off-takes
Peru, with 41% drop in during the same period. from the main ports'
fishmeal production. The Once again, Peru took the warehouses. Consequently,
primary factor behind this spotlight as the main the total stock of imported
decline is without doubt the contributor to this negative fishmeal has slightly
41% year-on-year decrease performance due to supply decreased, though it remains
in fishmeal production in shortages resulting from above the average value
Peru. reduced landings and lower reported for week 2 between
The El Niño phenomenon oil yields. 2019 and 2023.
Chile emerged as the sole Source: IFFO
22