News & Views
IFFO reports fishmeal production is down 26% from last year

IFFO – The Marine Ingredients Organization reports that fishmeal production during the first nine months of 2023 was down by approximately 26 per cent compared to around the same time frame last year. 

The cumulative total fishmeal production was collected from Peru, Chile, Denmark, Norway, Iceland, UK, Ireland and Faroe Islands, USA, South Africa, Ivory Coast and Mauritius, Spain. According to IFFO, “the predominant factor behind this is the 70 per cent year-on-year production decrease in Peru.”

Fish oil’s total cumulative output in the first nine months of the year was down by 21 per cent year-on-year. Chile was the only country that reported an increase year on year due to healthier catches and higher-than-average oil yields in the south of the country.

In September, the overall raw material used by these countries was in line with the 2014-2022 average for the same month. Its use of raw materials increased by six per cent in September compared to the same month in 2022 because of better catches in Northern Europe.

Also, the cumulative imports of fishmeal by China through September dropped by 8.7 per cent yearly, “reflecting both a weaker domestic demand from aqua- and piglet feed producers and a lower supply worldwide.”

According to the press release, “the domestic aquaculture sector is encountering various challenges, including environmental pressure, technological challenges as well as intense competition among feed mills and farmers. These result in overcapacity and oversupply.”