2012 Fishmeal Production Estimated at 1.315 MMT14 March 2012
PERU - Fishmeal production for 2012 is estimated at 1.315 MMT, remaining constant with the previous year, according to the latest USDA Peru Oilseeds and Products Report.
Total fish catch for reduction in 2011 was 6 MMT, about a ten per cent increase compared to the previous year. Favourable weather conditions, especially water temperature, caused an increase on total catch which translated in more fishmeal production.
Peru produces two types of fishmeal: Fair Average Quality (FAQ), with protein content between 62 and 65 per cent, which is dried by direct heat, and Prime, which is indirectly dried by steam and has a protein content of 66-67 per cent.
International fishmeal prices in 2012 remained high, price of Prime meal averaged $1400 per MT compared to $700 a few years ago.
Local fishmeal consumption is insignificant and does not have a large impact on the export market. Consumption for 2012 is forecast at about 14,000 MT. Local consumption is expected to remain low and even decrease due to high international prices and increased demand from foreign aquaculture industries. Fish is used as a protein source in animal feed; especially shrimp farms located northern Peru.
Fishmeal exports totaled $1.8 billion in 2011 at an average export price of $1,365 per MT.
Fish oil production in 2012 is forecast at 340,000 MT. Oil extraction is directly related to water temperatures and can vary significantly from year to year. Under normal weather conditions the oil extraction rate should be around eight to 10 per cent, but can drop to as low as one percent in unusually warm waters.
Exports for 2012 are forecast at 320,000 MT. In 2011, Chile, Belgium and Denmark were the major importers of Peru’s fish oil.
Consumption in 2011 is forecast at 20,000 MT. Domestic consumption will remain low due to increasing fish oil demand in other countries, especially as a feed ingredient for a growing aquaculture industry
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