Peruvian authorities announced that the second anchovy fishing season in the north-center area for 2023 will be officially closed on January 13, 2024.

As of January 12, in Peru, close to 75% of the second fishing season’s 1.682 million tons quota has been landed in the north center of the country. The early start in October 2023 resulted in higher catches in November 2023 and contributed substantially to the overall surge in raw material usage. Larger catches were also reported in Chile and the North Atlantic region.

Lower fishmeal and fish oil production in 2023

Considering the countries analyzed in the IFFO reports* – which make up 55% of global fishmeal and fish oil production – cumulative total fishmeal production during the first 11 months of 2023 was down by approximately 16% compared to the cumulative production reported through November 2022. The predominant factor contributing to this decline must be attributed to the 41% year-on-year decrease in Peru, whose activities were heavily affected by El Niño and the subsequent cancellation of the April-June first fishing season of the year.

As for fish oil, the total cumulative output in the first 11 months of 2023 was almost 20% down year-on-year. The supply shortage in Peru – due to both fewer landings and lower oil yields – was again the main cause for such negative performance. Chile remained the only country that registered a positive change YoY thanks to healthier catches and higher-than-average oil yields in the South of the country.

*Peru, Chile, Denmark, Norway, Iceland, UK, Ireland and Faroe Islands, USA, South Africa, Ivory Coast and Mauritius, and Spain