Fishmeal production increases and fish oil drops in 2021

Fishmeal production increased 3.6% and fish oil dropped by almost 6%, according to the latest IFFO report.

Fishmeal production increases and fish oil drops in 2021
February 3, 2022

The total fishmeal production of the countries analyzed in the reports which IFFO dedicates to its members is estimated at 2.443 million metric tonnes (mt) in 2021, against the 2.359 million mt reported in 2020, a 3.6% increase. Peru, Chile and India have increased their cumulative fishmeal output in 2021, while the Northern European countries, the USA and the African countries reported a collective decrease of more than 160,000 mt, year on year.

In terms of fish oil, on the contrary, the overall output of the countries analyzed in these reports has dropped by almost 6%. The total output in 2021 is currently estimated at 546,000 mt vs 581,000 mt in 2020. Chile, Iceland and India have been the countries that have increased their production in 2021, while all the other areas, including Peru, the key producer, reported a contraction.

China: Record levels of fishmeal imports in 2021 expected to continue in 2022

From January to April 2022, little production of marine ingredients is expected, and most of it is expected to be based on byproducts. The record level of fishmeal imports reported in 2021 might be reached again in 2022. The demand for marine ingredients is expected to be still dominated by aquaculture, in a context where the Chinese authorities have committed to managing the sector according to strict environmentally protective criteria.

Aquaculture currently remains off-season. The average trading price of aquatic products rose in December 2021 and January 2022 year on year, supported by healthy trading volumes. The farm-gate prices of farmed species rose before the Spring Festival holidays as expected.