IFFO forecasts fishmeal and fish oil production to 2024

Peru's second fishing season in 2024 in the central and northern parts of the country ended with a total catch of 2.42 million tonnes of anchovies, fulfilling 96% of the quota. This is seen as a sign of the resilience of Peru’s fisheries after the 2023 El Niño. According to IFFO's market intelligence report, cumulative fishmeal production is expected to increase by 26% in 2024, mainly due to the recovery of Peruvian catches, while cumulative fish oil production is expected to increase by 12%. However, production in Europe is predicted to decrease.

Peru's second fishing season in 2024 ends with 96% of quota fulfilled supervision In Peru, the second fishing season in the central and northern parts of the country has ended with a total catch of 2.42 million tonnes of anchovies. Fishing operations in the south of the country are still ongoing. Enrico Bai, Director of Market Research at IFFO Dr. Bachis, Director of the International Fisheries and Fisheries Research Institute, noted: “This result highlights the resilience of Peru’s fisheries after the El Niño in 2023.” In general, Peru accounts for about 20% of global fishmeal and fish oil production. IFFO’s forecast for fishmeal and fish oil production in 2024 According to IFFO’s market intelligence report, cumulative fishmeal production in the countries of interest is expected to increase by 26% in 2024 compared to 2023. This significant increase is mainly due to the recovery of Peru’s catch, which was severely affected by the El Niño in 2023 and production fell sharply. ...