Disruptions to China’s aquaculture season and a slow start to the anchoveta-fishing season in Peru slowed global production of marine raw materials in March 2022, according to IFFO, the international trade body that represents the marine ingredients industry.
In its March 2022 review, based on reports from IFFO members, which collectively cover around 50 percent of global fishmeal and fish oil production, it said raw material production was down 6 percent year-over-year. Through the first quarter of 2022, only India, Icelandand the North Atlantic area, and Africa had increased their fishmeal production, it said, and only the U.S., the Northern European area, and Africa had increased their fish oil production.
“This is mainly due to a slow start in Peru, as the quota granted in the last quarter of 2021 was almost completely landed by the end of 2021,” IFFO Market Research Director Enrico Bachis said. “Usually, part of the quota is fished in January, and sometimes even in February.”
China’s aquaculture season began in April, which will likely push up global usage of fishmeal and fish oil, according to IFFO, although disruptions to trade and logistics due to China’s current COVID-19-related lockdowns are having a negative impact. Additionally, unstable weather conditions are having a negative effect on aquaculture in China’s south, where farming activities take place year-round, IFFO said.
With a fishing moratorium in China’s domestic waters in effect through September, China’s aquaculture industry is now relying on aquaculture byproducts created in Southern China, IFFO said. It said soybean meal prices have “nosedived” with an improved supply difficulties faced by China’s pork sector, which it said continues to suffer from over-capacity.
Photo courtesy of IFFO
