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December 24, 2014

Japan

Fishmeal Prices Hit $2,500 a Ton

 

In 2014, in Peru, a major fishmeal producing country, the catch of anchovies used to produce fishmeal declined drastically, probably because of warmer El Niño waters.  The decline in production comes at a time when the demand from animal feed companies around the world is expanding rapidly.  Consequently, fishmeal prices have hit an all-time high.  Japan has been particularly hard hit because the decline in the value of the yen makes imports of fishmeal from Peru very expensive.

 

Peru’s fishmeal output accounts for about one quarter of global fishmeal production, and Japan buys about 30 to 50% of its fishmeal from Peru.  The price of Peruvian fishmeal in Japan now stands at $2,400-2,500 per metric ton, up 40 to 50% from a year ago.

 

Landings of anchovies in Peru in May-July 2014 were at around 70% of the 2.5-million-ton quota set by the Peruvian government.  A survey conducted by the government in September and October 2014 showed that anchovy stocks were down 70 to 80%, compared with previous years.  In a later survey carried out by the government and the private sector in 2014, 94% of the anchovy catch was found to be immature.

 

A Japanese trading firm official speculates that the anchovy quota in Peru will be reduced drastically in coming years from last year’s quota of 2.3 million tons.  No other fishmeal-producing countries expect to increase fishmeal exports.  In Chile, most of the domestically produced fishmeal is used by the country’s salmon farming industry.

 

In China, where fishmeal is used to produce pig, fish and shrimp feeds, fishmeal production has plunged to about 40% of 2013’s level.  Its current supplies of fishmeal are expected to be used up in a few weeks.

 

Source: Seafood.com (an online, subscription-based, fisheries news service).  Editor and Publisher, John Sackton (phone 1-781-861-1441, email jsackton@seafood.com).  Fishmeal Prices Hit $2,500 Per Ton in Japan as China Production Plunges Along With Peru.  December 24, 2014.

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