The International Fishmeal and Fish Oil Organisation (IFFO) has projected a 26% increase in global fishmeal production for 2024, driven largely by a recovery in Peru’s anchoveta catch. Peru’s second fishing season ended with 2.42 million metric tonnes of anchoveta caught, fulfilling 96% of the country’s quota. This follows a challenging 2023, during which the El Niño phenomenon significantly impacted production.
IFFO’s estimates show that Peru’s recovery has more than compensated for declines in other regions. Europe, in particular, experienced a reduction of over 100,000 metric tonnes in fishmeal production compared to 2023.
Fish oil production is also expected to grow by 12% year-on-year, though the increase is less pronounced than that for fishmeal. The growth in fish oil is attributed to Peru’s recovery, although reductions in Chile and Europe have partially offset this. While the USA and African countries reported increases, their contributions remain too small to significantly impact overall global production.
IFFO’s estimates are based on data from member countries, including Peru, Chile, the USA, and several European nations, which together account for a significant portion of global fishmeal and fish oil output.
