Peru’s Seafood Exports Up in 2008

By

Michael Mackey, SeafoodSource contributing editor, reporting from Lima, Peru

Published on
February 12, 2009

Peru's seafood exports totaled 2.25 million metric tons in 2008, a 15.6 percent increase from 2007, according to figures the nation’s Ministry of Production recently released. By value, seafood exports amounted to USD 2.4 billion (EUR 1.9 million), up 24.1 percent from 2007.
 
The increase in seafood exports is mainly attributed to sales of fishmeal (up 23.7 percent), frozen seafood (up 16.7 percent) and cured seafood products (up 6.3 percent), which occurred despite the fall of the average international fishmeal price. It was down 5.6 percent compared to the previous year, while the average price of fish oil increased 88.2 percent compared to 2007. The rise in the average fish oil price boosted foreign currency earnings 44.5 percent, despite the lower export volume.
 
Seafood exports increased by a greater margin than Peru’s total exports, which amounted to USD 31 billion (EUR 24.3 million) in 2008, a 12.1 percent increase from 2007, according the National Superintendency of Tax Administration (Sunat). 
 
Demand for fish oil is up worldwide.

“The Peruvian fish oil stands out because the anchovy has a high concentration of fatty acids as the omega-3s, and this has made to increase its value,” said Fishing Vice Minister Alfonso Miranda.

There is some feeling that the coming year will not be as prosperous for the seafood industry due to the weakening global economy.

“Exports, as a whole, should fall about 10 percent [in 2009],” Jose Silva, president of ADEX, Peru’s exporters association, told a local TV station.

Want seafood news sent to your inbox?

You may unsubscribe from our mailing list at any time. Diversified Communications | 121 Free Street, Portland, ME 04101 | +1 207-842-5500