Fishing company Corpesca, controlled by Angelini Group, reported a loss of USD 17 million in 2015, compared with a profit of USD 16.6 million in the previous year. This was attributed to a decrease in the catch of 253,000 metric tons, as a result of \"the strong negative influence of the weather phenomenon El Niño.\"

The company informed the Superintendency of Securities and Insurance (SVS), that the volume invoiced by the parent firm during the period to December 2015 was 114,710 tonnes of fishmeal and fish oil, which represents a decrease of 27 per cent compared to the same period in 2014.

The average transaction prices in dollars increased by 17 per cent for fishmeal and 7 per cent for fish oil, compared to the values of the previous year.

Corpesca processing plants received 416,000 tonnes of raw material last year, 33.6 per cent less than in 2014, when 627,000 tonnes were processed.

According to Corpesca, a downward trend in price is expected in the fishmeal market in the next few months because of weak demand in Asia, particularly China, due to the devaluation of its currency, lower economic activity and the presence of substitute marine proteins and vegetables products at historically low prices.

The company said that fish oil prices obtained during the year were favourable, and that the oil market showed a stable performance with good fatty acid profiles.

Source: FIS.com. Read the full article here.