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Krill Meal and Krill Oil: How price and tonnage competitive are they with other fishmeals and oils?

Dimitri Sclabos Katevas, General Manager Tharos Ltd., Chile. Our key report in the Winter issue of Aquafeed: Advances in Processing & Formulation, vol VI issue IV, 2014

December 29, 2014

Dimitri Sclabos Katevas, General Manager Tharos Ltd., Chile.

Download the full issue.

Take Away:

聽聽聽聽聽聽聽聽 South Antarctic Krill meal (and oil) production (Euphausia superba, Dana) started mid/late 70s when the Soviet Union led fishing and production, alongside Japanese and Koreans.

聽聽聽聽聽聽聽聽 Although dried meal was manufactured at the very inception of the fishery, fresh whole frozen krill and human-grade meats were primary targets, meal tonnage capping around 25 000 tons (2014).

聽聽聽聽聽聽聽聽 Krill oil grew from 5 to 1.450 tons/yr. in 3 decades (2013). Since late 90s, human applications triggered new processing layouts sourcing pricy phospholipids-enriched krill oils away from feed applications.

聽聽聽聽聽聽聽聽 Krill meal quality specifications focus in protein and pigment content. Late 90s to early 2000s aminoacids and palatability components reinforced demand for meal with new feed applications in aqua-farmed species.

聽聽聽聽聽聽聽聽 As krill meal is also used to extract oil since mid 2000s, these meals compete with feed-grade applications, the latter impossible to compete in price, sometimes doubling the price of the former.

聽聽聽聽聽聽聽聽 Krill oil quality became of market interest since late 90s when the first phospholipids-enriched krill oils hit the market; from oxidized triglycerides-enriched to phospholipids-enriched supplement/pharma quality oils being human applications current market focus.

聽聽聽聽聽聽聽聽 Krill meal and oil uniqueness rely on:

o聽聽 Natural antioxidant as astaxanthin

o聽聽 Omega-3鈥檚 mainly bound to phospholipids

o聽聽 Unsurpassed freshness when the meal is manufactured onboard (at-sea)

聽聽聽聽聽聽聽聽 High quality protein, aminoacid profile and low molecular weight compounds that confer krill meal its unique palatability enhancing properties.

聽聽聽聽聽聽聽聽 Meal prices from US$475-775 per ton late 80s/early 90s to current US$2.75-3.45 per kilo FOB, the latter mostly for oil extraction applications. Krill oils from US$475-575late 90s to current US$125-175 per kilo FOB (bulk, not blended, high quality, human applications).

聽聽聽聽聽聽聽聽 Krill meal price will stay anchored around US$2.5 per kilo FOB while oils will face pressure from new extraction technologies and expanded processing capabilities pushing prices below the US$100 per kilo FOB mark within the coming 2 to 3 years.

聽聽聽聽聽聽聽聽 Strict environmental and fishing regulations (current TAC 8MM tons/yr., precautionary limit 620.000 tons/yr.) applied by CCAMLR, limits krill end-products supply to a minor fraction compared the Peruvian anchovy, West Africa and North European fisheries.

聽聽聽聽聽聽聽聽 Krill meals and oils will remain a niche ingredient.聽 聽 聽 聽 聽 聽

Download Krill Meal and Krill Oil: How price and tonnage competitive are they with other fishmeals and oils? (pp 12-20 AQUAFEED: Advances in Processing & Formulation, vol VI issue IV, 2014) (PDF) from the \"read document\" link below.

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