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June 25, 2014

Peru

Fishmeal Prices Rise Dramatically

 

The price for Peruvian fishmeal—the international benchmark for fishmeal prices—for shipment in July-August 2014 stands at $1,900 to $2,000 a metric ton, 30-40% higher than last fall when production of farmed shrimp shrank around the world under the impact of widespread diseases.

 

In Peru, the anchovy fishing season occurs between April and July.  Landings for the current season are expected to amount to less than 80% of the allowable quota because catches are down.  On top of that, to prevent overfishing, the Peruvian government is taking measures to restrict the catch of small fish.

 

In Chile, another major producer of fishmeal, the amount to be directed to exports is minimal as domestic production of farmed salmon is picking up.

 

In addition, an El Niño may hit the west coast of South America and cause a reduction in the landings of the fish species that are used to manufacture fishmeal.

 

All this is occurring at a time when the demand for fish meal is going up across the globe.  Japan needs to import large amounts of fishmeal to sustain its fish farming industries, and strong demand from shrimp farms in Southeast Asia and China will drive prices higher.

 

Source: Seafood.com (an online, subscription-based, fisheries news service).  Editor and Publisher, John Sackton (phone 1-781-861-1441, email jsackton@seafood.com).  Fish Meal Prices for Aquaculture Climbing 30% on Rising Sea Temperatures and Decreasing Landings.  June 24, 2014.

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