2024 fishmeal production higher than in 2023 so far due to Peru's strong anchovy seasons

Peru's strong anchovy seasons have led to a significant increase in fishmeal production in 2024, with a cumulative production increase of nearly 23% compared to the same period in 2023. Other regions, however, reported a decline. China's production of fishmeal and fish oil has remained subdued in 2024 due to fewer wild captures, and its production levels are projected to fall below those of 2023. Despite off-season demand, cumulative fishmeal imports through September rose year-over-year, reflecting increased stockpiling. The aquaculture sector has entered its low season, and total aquafeed production for 2024 is expected to fall below what was farmed in 2023, but fishmeal consumption is likely to rebound in April 2025 with the start of the next main aquaculture season.

2024 fishmeal production higher than in 2023 so far due to Peru’s strong anchovy seasons. In the first nine months of 2024, cumulative fishmeal production increased by almost 23% compared to the same period in 2023*. The significant year-on-year increase of the Peruvian cumulative supply was the main factor behind such positive trend, since the rest of the regions analysed in this report reported a decline compared to January-September 2023. In Peru, which historically has represented on average 20% of the global fishmeal and fish oil production, almost 20% of the 2.51 million-mt quota has, to date, already been fulfilled in the North-Centre region since the fishing season started on 1st November. When it comes to fish oil, total cumulative output through September 2024 was nearly unchanged, showing just a 1% increase year-over-year. This modest growth was primarily driven by the increased output from Peru almost totally offset by declines in cumulative production from all other ...