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Copeinca’s 1Q sales soar on higher quotas

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By SeafoodSource staff
09 May, 2012 - As a result of larger anchovy quotas in the second half of 2011, Copeinca’s sales volumes garnered “significant results.”

Revenue for the Peru-based fishmeal and fish oil company for the first quarter of 2012 was USD 99.1 million, up from USD 27.8 million for the same period in 2011.

Copeinca’s EBITDA reached USD 33.8 million, compared to USD 7.6 million last year.

Volume sold was 77,734 metric tons, up from 18.099 metric tons in 2011. Revenue per metric ton averaged USD 1,274, down from USD 1,535 per metric tons in 2011.

The company also saw revenues of USD 3 million from the sale of 6,600 metric tons of mackerel and jack mackerel, up from USD 2.1 million in the first quarter of 2011.

The maximum allowable catch limit of anchovy for indirect human consumption for the first fishing season 2012 is 2,700,000 metric tons.  The first fishing season will end once the maximum allowable catch limit is reached, or on 31 July.

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