Global fishmeal and fish oil production in January 2021 surpassed that of January 2020, according to IFFO, The Marine Ingredients Organization.
Despite the United States recording a “big drop” in landings in Alaska, catches in Peru, Chile, and Northern Europe resulted in higher availability of raw material in January 2021 compared to the same month a year prior.
“Thanks to better-than-average landings in Peru and Chile, both total fishmeal and fish oil production in January 2021 (including salmon-based meal and oil) were far bigger than in January 2020,” IFFO reported in its latest market update.
IFFO said it expected more raw material to come available once the menhaden fishing season begins in the United States in April.
Demand in China, the world’s top market for fishmeal and fish oil, “remains robust” and China’s aquafeed production is expected to pick up mid-March, if traditional output patterns hold true, according to IFFO. However, with fishmeal plants in Liaoning expected to be offline until September due to lack of raw material, China’s supply of domestic fishmeal in the Q1 2021 “might not improve with respect to the first quarter of 2020,” the group said.
That lower production, along with the continued recovery of China’s pig farms after a devastating outbreak of African swine fever, is leading to higher prices, IFFO said.
“The rise of the aquatic products' price signals the strength of the demand for seafood, helped by the recovery of the foodservice [sector] in China,” it said.
Photo courtesy of Evannovostro/Shutterstock
