Fishmeal production saw a significant increase of 40% in the first half of 2024, largely driven by a successful fishing season in Peru’s North-Centre region. However, fishing operations are currently restricted, with only 15% of the southern quota utilized.

According to IFFO reports, global fishmeal production rose sharply between January and June 2024, thanks to exceptional catches in Peru’s North-Centre region, despite the ongoing fishing ban in that area. Meanwhile, fish oil production increased by 10% in the same period. Peru’s fishing activities are currently limited to the southern grounds, where only a fraction of the allowed quota has been landed so far.

In contrast, Chile experienced mixed trends with decreased landings in the South but increased catches in the North during the first half of the year. Northern Europe has seen a reduction in available raw materials due to lower quotas for 2024 compared to 2023. The USA reports continued progress in menhaden catches, though they remain below the previous year’s levels.

In China, the recent lifting of the fishing ban has not alleviated the cautious outlook among local fishmeal and fish oil producers. Official statistics show a decline in imports through June, attributed to weak aquafeed demand and high production costs. Despite this, the pig sector in China shows signs of recovery, with rising prices contributing to increased fishmeal consumption.