Advertisement

Newsroom

2015 eventful for fishmeal sector

2015 turned out to be a mixed but eventful year for the fishmeal sector. Undercurrent News gave a useful rundown of the year.

January 6, 2016

2015 turned out to be a mixed but eventful year for the fishmeal sector. Undercurrent News gave a useful rundown of the year.

El Nino continued to wreak havoc on Peru\'s anchovy fishery, in turn impacting the fishmeal market, and prices.

China Fishery Group was handed a petition to liquidate and is going through challenging times along with its owner, Pacific Andes International Holdings.
Cargill acquired EWOS, and Oceana acquired Daybrook Fisheries.

Shareholders of US menhaden catcher Omega Protein, have been agitating for a sale.

The market could soon see fishmeal priced as a strategic ingredient instead of as a commodity, as falling supply and rising demand is forcing it to become a \"high-price\" marine protein, Dutch lender Rabobank said in a report.

In Peru, the most important hub for fishmeal, consolidation is needed to deal with one of the most volatile business environments of the food sector, Rabobank said this year.

Pacific Andes, which became the leading exporter after buying Copeinca in 2013 through its China Fishery arm, said it would \"remain focused on maximizing value\" from further consolidation of its Peruvian fishmeal operations. However, in November 2015, HSBC applied to a court in Hong Kong to wind up China Fishery and appoint a liquidator.

The move in turn caused fish processor Pickenpack Europe to file for voluntary bankruptcy in Germany, although the French subsidiary is not involved in those proceedings. Pacific Andes chairman and managing director Joo Siang Ng also stepped down recently.

Amid these events, Pacific Andes and China Fishery face regulator investigations in Singapore and Hong Kong, while China Fishery itself is being hit by low catches of Peruvian anchovy due to the ongoing El Nino.

Quite a year! Read the full article in Undercurrent News. (subscription)

Advertisement

Latest Magazine

Event news