Less fishmeal in world market leads to record high fishmeal prices

Total Peruvian landings were 7 million tonnes in 2009, a 6% decline from 2008. Capture production for reduction was 5.8 million tonnes, which compares with 6.2 million tonnes in 2008. Lower landings resulted in lower fishmeal output: some 1.34 million tonnes of fishmeal were produced in Peru during 2009, which was 5% less than in the previous year. Exports were relatively stable at 1.54 million tonnes, as some stocks from 2008 were exported only in early 2009, when demand in China was strong.

Peru's fishmeal production for 2010 has been estimated at 1.40 million tonnes, about the same as 2009, while exports are expected to decline slightly to 1.3 million tonnes. There is a great deal of uncertainty in Peru about the final figure for the fishing quota for next season, which will begin in late April or early May. It is speculated that the quota may be reduced by about 500 000 tonnes compared with the 2009 quota, which will result in lower availablity of about 125 000 tonnes of fishmeal in the market. A stronger than expected El Niño is likely to impact the anchovy resource, resulting in a lower quota this year.

Read full report, with graphs on the Globefish website: [Globefish Fishmeal Market Report - March 2010].