Global fishmeal output dropped 23 percent in 2023 Global fishmeal and fish oil production dropped significantly in 2023

There was a 23 percent drop in fishmeal production and  21 percent decline in global fish oil production in 2023, according to IFFO - The Marine Ingredients Organization, a trade group representing companies accounting for a substantial amount of the world's fishmeal and fish oil output.

The decline can be primarily attributed to Peru's June 2023 decision to cancel its main anchovy fishing season and fishing activities being impacted by El Niño. Peru typically accounts for around 20 percent of global fishmeal and fish oil production, but a drop in its fishmeal and fish oil production after Peru reported its 2023 anchoveta catch was down 52 percent year over year in 2023. Peruvian authorities will decide later this month on the quota for the first anchoveta fishing season of 2024.

“Despite El Niño weakening, in the north-central area, the next acoustic research cruise for the first fishing season of 2024 is expected to commence mid-February," IFFO said in its monthly membership update.

China, the world's top fishmeal importer, saw its fishmeal imports decrease in 2023. China's aquaculture sector is struggling due to oversupply of aquatic products, higher fishmeal prices, and sluggish demand.

Europe was the only region to report higher cumulative fishmeal production in 2023, while Chile was the only country to increase its year-over-year fish oil production, due to healthier catches and higher-than-average oil yields, IFFO reported.