The Global Fishmeal Production had a 2-3% Increase in 2021 Compared to 2020.

Fishmeal production was lifted in Peru and Chile in 2021 while decreasing in the North Atlantic. 

In 2021, two successful fishing seasons lifted fishmeal production 19% in Peru and 9% in Chile while production in the North Atlantic decreased due to lower landings of blue whiting and sandeel. The global production is estimated to around 5,1 million tonnes, a 2-3% increase from 2020. On the fishoil side, production turned out a bit lower due to very low oil yield in the fish during the second season in Peru.

During 2021, China has secured the largest import volume ever as fishmeal import exceeded 1,8 million tonnes. Around 55% of this came from Peru which accounts for above 80% of total exports from Peru. One reason for the increased demand is an estimated 30% drop in the domestic fishmeal production in China. The Chinese pig inventory appears to have recovered which in turn have increased the demand for fishmeal. The record level of fishmeal imports reported last year might be reached again in 2022 unless a drastic readjustment of the pig sector occurs or the domestic fishmeal production increases.

Prices for fishmeal has remained remarkably stable throughout last year considering the high price level on substitutes like soy and rape. The successful production season in Peru and expected higher landings of fish for reduction in the North Atlantic (capelin etc.) will probably keep fishmeal prices on a reasonable level the coming months as well. Lower output of fishoil has already affected the price level and we have seen increasing price level both in Europe and in Peru the past weeks.

This is an extraction of the Monthly Pelagic report. Want to stay updated on the latest in the world of pelagic species? Subscribe to the report today.

Image: Shutterstock by Evannovostro