Peru’s 2024 second fishing season ended with 96% of the quota fulfilled 

In Peru, the second fishing season in the North-centre has ended, with a catch 2.42 million metric tonnes of anchoveta. Fishing operations continue in the South. “This fulfillment is a very strong signal about the resilience of the industry after a 2023 season marked in Peru by the El Niño phenomenon” Dr Enrico Bachis, IFFO’s Market Research Director, noted. In an average year, Peru accounts for roughly 20% of global fishmeal and fish oil production. 

IFFO’s estimates for 2024’s fishmeal and fish oil production 

According to our market intelligence reports*, estimates on the total cumulative fishmeal production of the countries we analyse show a 26% increase compared to 2023. This significant growth is primarily due to a recovery in the Peruvian landings, which were severely impacted by El Niño in 2023. The rise in Peru’s cumulative supply has more than offset the production reduction observed in all the other regions. Europe has been the region with the poorer year-on-year performance, with a loss of more than 100,000 mt in comparison to the year 2023. 

When it comes to fish oil, cumulative production in 2024 is estimated to represent a 12% year-on-year increase. This smaller growth rate was due to the fact that the outstanding recovery in the fish oil supply from Peru, was partially offset by significant drops in both Chile and Europe. The USA and the African countries reported a year-on-year increase, but their tonnages are comparatively too small to influence the whole performance of the regions analysed by IFFO.  

* These data are based on statistics shared by IFFO members in Chile, Denmark, Faroe Islands, Iceland, Ivory Coast, Mauritius, Norway, the UK, the USA, Peru, South Africa and Spain, accounting for 40% of global fishmeal production and 50% of fish oil output.