Production of fishmeal and fish oil has increased in July 2021 compared to the previous year despite a reduction in the tonnage of raw material used, according to The Marine Ingredients Organisation’s (IFFO) latest report.
The dip in raw material of around 35% is thought mainly to result from the late completion of the first fishing season in Peru in 2020, whereas this year the month of July only captured the tail end of the North/Centre fishing season.
The Iceland/North Atlantic area, the USA and India all improved their performance year on year, but this was not enough to off-set the loss in Peru, Denmark/Norway and the African countries.
The total cumulative productions of the countries that IFFO covers were higher year on year during the first 7 months of 2021 with fishmeal up by 8% and fish oil up by 17%.
China’s domestic fishmeal output remains low during the fishing ban meaning imported fishmeal stocks have increased to record levels. Domestic fishmeal production between May and September relies only on by-products, thus volumes remain subdued. All fishing grounds (with the exception of the South China Sea) will remain under a fishing ban until September.
The average price of aquatic products continues to rise year on year and recently even shrimp prices have started to move up thanks to improved demand. Aquafarming remains in its seasonal peak, with aquafeed output on the rise again in July 2021.