15/07/2021 by Gunn Strandheim
A Deep Dive Into the World of Pelagic Species
While facing several challenges, yet another season is coming to an end.
Back in March, we saw that the demand for herring roe raised first sales prices. A couple of months later, what has changed in the world of herring and other pelagic fish? Will the catch quota for the season be fulfilled? Is the demand for fishmeal export still high in key markets? And what about prices?
Peruvian Catch Activities and Fulfilling the Catch Quota for the Season
The first thing we see is that the Peruvian catch activities have progressed quite well throughout the season. This despite several factors, such as several mini bans and bad weather conditions. While fishing was reduced throughout the second half of June, the catch quota was almost fully met (at 95%) by the first week of July. Whether the catch quota will be fulfilled by the end of the season, which is expected July 15th, is still unknown. Considering the output from this season, it is expected that fishoil output will be large.
High Demands and Growth in Fishmeal Import
Reports from Peru show that the demand for fishmeal has been good in key markets, and particularly in China which today is the main destination market for fishmeal exports from Peru. Import figures from China show high growth in fishmeal import from January to May. There was also an increase in fishmeal consumption during the first six months.
While it is expected that prices will drop in the short term, this all depends on the demand from China and other main market players. If key markets are well covered in the coming months, this could point to stable prices.
Want to learn more about the latest trends in the world of pelagic species? Check out our Monthly Pelagic Report.
Image: Shutterstock by Rich Carey