Open main menu
Visit Website
Sign Up

Q1 2024 Sees 27% Decline in Global Fishmeal Production, Optimistic Outlook for Remainder of Year

In the opening quarter of 2024, global fishmeal production witnessed a notable drop of around 27% when contrasted with figures from the corresponding period in 2023.

TradoublesTradoubles

•

•

Q1 2024 Sees 27% Decline in Global Fishmeal Production, Optimistic Outlook for Remainder of Year
Do not index
Do not index
"Peru's Fishing Season Impacts Global Fishmeal and Fish Oil Production in Q1 2024"
The decline in global fishmeal and fish oil production during the first three months of 2024 was largely attributed to Peru's fishing season dynamics, reports IFFO, The Marine Ingredients Organization.
Following a below-average quota in Peru's North-Central region during the second fishing season of 2023, catches were reduced at the outset of 2024. The closure of the Peruvian anchovy fishery's second season in January left a significant portion of its quota unfulfilled, compounded by shortages stemming from the cancellation of the first season in 2023.
Despite the sluggish start, there's optimism for 2024 as Peru's latest fishing quotas show promise. Approximately half of the anchovy quota for the North-Central region has been met within the first 23 days of the 2024 season, indicating a positive trend.
Chile, the U.S., and African countries are also exhibiting favorable trends in fish meal production compared to 2023, buoyed by higher quotas.
However, fish oil production also experienced a decline in Q1 2024, down 30%, primarily due to Peru's fishing season.
IFFO noted persistently weak demand for feed ingredients in China, with reduced fishmeal imports through March 2024, reflecting challenging conditions in both the pig and aquaculture markets. Aquafeed production in Q1 2024 is anticipated to be lower compared to the same period last year due to subdued consumption of feed ingredients.
Despite these challenges, analysts foresee a potential recovery in the pig sector in the second quarter of 2024, which could influence demand dynamics.
Tradoubles

Written by

Tradoubles

Tradoubles is a cross-border seafoods marketplace. We help you source the best seafood suppliers from asian countries.

    Related posts

    Saudi Arabia Targets Expansion of Seafood Production in 2024 to Satisfy Rising Domestic DemandSaudi Arabia Targets Expansion of Seafood Production in 2024 to Satisfy Rising Domestic Demand
    TradoublesTradoubles

    /

    Saudi Arabia Targets Expansion of Seafood Production in 2024 to Satisfy Rising Domestic Demand

    Saudi Arabia's Fisheries Department Pursues Ambitious Goal: Plans to Elevate Fish Output to 230,000 Metric Tons in 2024 to Address Significant Disparity Between Current Supply and Domestic Demand Through Increased Domestic Production.

    Research Indicates Fungal Protein Enhances Shrimp Growth and HealthResearch Indicates Fungal Protein Enhances Shrimp Growth and Health
    TradoublesTradoubles

    /

    Research Indicates Fungal Protein Enhances Shrimp Growth and Health

    Recent Study Reveals Shrimp Thrive on Enifer's PekiloAqua Mycoprotein Diet, Demonstrating Faster Growth and Improved Health Compared to Traditional Feeds.

    ASC Commemorates Triumph at Seafood ExpoASC Commemorates Triumph at Seafood Expo
    TradoublesTradoubles

    /

    ASC Commemorates Triumph at Seafood Expo

    Following the Resounding Success of the 2024 Seafood Expo Global, the Aquaculture Stewardship Council (ASC) Marks the Acclaimed Contribution of its Expert Panel, Centered on Advocating for Responsible Aquafeed Practices.

    Financing agreement aims to boost Mozambique artisanal fishery effortsFinancing agreement aims to boost Mozambique artisanal fishery efforts
    TradoublesTradoubles

    /

    Financing agreement aims to boost Mozambique artisanal fishery efforts

    Mozambique recently formalized a significant partnership with the International Fund for Agricultural Development (IFAD), sealing a financing agreement totaling USD 63 million (EUR 57.6 million). This collaborative effort aims to bolster the livelihoods of artisanal fishers along Mozambique's extensive East African coastline.

    Mascato Expands Product Range, Aims to Integrate Seafood into Daily Consumption HabitsMascato Expands Product Range, Aims to Integrate Seafood into Daily Consumption Habits
    TradoublesTradoubles

    /

    Mascato Expands Product Range, Aims to Integrate Seafood into Daily Consumption Habits

    Established in 1994, Mascato, headquartered in Vigo, Spain, has evolved from a modest family enterprise into a global leader specializing in various seafood products. With a workforce exceeding 1,500 individuals across multiple nations, Mascato stands as a multinational seafood specialist.

    AIPCE-CEP, EAPO, Europeche, and FEAP Join Forces to Establish European Strategic Seafood AllianceAIPCE-CEP, EAPO, Europeche, and FEAP Join Forces to Establish European Strategic Seafood Alliance
    TradoublesTradoubles

    /

    AIPCE-CEP, EAPO, Europeche, and FEAP Join Forces to Establish European Strategic Seafood Alliance

    Representing diverse sectors of Europe's seafood industry, four organizations have united to create the European Strategic Seafood Alliance.

    Trident Seafoods Divests Ketchikan Facility; Pickenpack's European Arm Returns to Russian Pollock ProcurementTrident Seafoods Divests Ketchikan Facility; Pickenpack's European Arm Returns to Russian Pollock Procurement
    TradoublesTradoubles

    /

    Trident Seafoods Divests Ketchikan Facility; Pickenpack's European Arm Returns to Russian Pollock Procurement

    In a recent development, Trident Seafoods' European subsidiary, Pickenpack, has announced its return to purchasing pollock sourced from Russia. Acquired by Trident Seafoods in 2016 following its bankruptcy in 2015, Pickenpack Vertriebs is based in Seattle, Washington, U.S.A., and is known as one of the leading global suppliers of Alaska pollock.