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Peru Fish Meal Exports at Lowest Level Since 2015/16 El Niño

12.01.2024 22:55 "Agro Perspectiva" (Kyiv) According to the report of the USDA Oilseeds: World Markets and Trade (January 2024), Based off current fishery conditions data, Peru fish meal export forecast is cut 300,000 tons to 800,000 in 2024. The closure of this years first fishing season for anchovy in Peru confirmed that 2023 was a smaller year for Peru fish meal exports. In June 2023, the government of Peru cancelled the first and main anchovy fishing season due to a high prevalence of juvenile anchovies present in the exploratory season that proceeds the opening of the main season on the northern coast. The closure caused Peru fish meal exports to drop to negligible levels over the Southern Hemisphere winter, usually the largest shipping window. The second season opened in late October with 1.7 million tons of quota for anchovies. By the end of December, the second season has thus far landed over 1.1 million tons of anchovies, compared to the sam e season in early 2023 when over 1.8 million were landed.

As the largest importer of fish meal in the world, China has been the most impacted. Typically, Perusupplies about half of China fish meal imports.

However, from January-November 2023, Peru supplied just 27 percent. This shortfall forced China to diversify suppliers, increasing shipments from Vietnam, Russia, Thailand, India, Chile, Mexico, and the United States. Looking ahead to 2024, the outlook for fish meal production in Peru

is reduced by 300,000 tons. The final season in 2023 had high levels of juveniles present in the catch, in excess of levels considered acceptable.

This unbalanced fish population coupled with the lingering effects of the El Niño reduces export expectations for Peru in 2024 by 300,000 tons to

the same level as 2023.

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