By fall in Peru: World Oil provides 10% reduction in world production of fish meal

World production of fish meal would be reduced by 10% between October 2014 and September 2015 due to lower production in Peru, usually the largest supplier in the world, according to German research firm Oil World.

Production could fall to a level "Extremely low" 4.12 million metric tons in 2014 to 2015 from 4.6 million tonnes the previous year, the company based in Hamburg (Germany) said in a report. The perspective is "Very tentative"Due to uncertainty about whether Peru resumed their fishing activities this season, said the company.

Prices of fish meal in Peru have risen to their highest level in more than a decade, with spot prices of flour prime fish at US $ 2360 a tonne last week from US $ 1,430 a tonne earlier this year , according to Peru Broker SA.

"The current uncertainty in the Peruvian production and the resulting expected decline in world exports of fishmeal remains the key determinant of price in the world market", dijo Oil World.

The Sea Institute of Peru (IMARPE) said on October 27 that the biomass in the southern fishing zone was insufficient to recommend a fishing quota, and conducted a study until November 20 to reassess the situation of the population Anchovy.

"Market participants are eagerly awaiting the results of the second study Imarpe" Oil World said. "Despite fears or market rumors of a complete closure of the fishing season from November to January, our analysis takes into account only a small Peruvian production".

It is anticipated that Fishmeal production in Peru will fall to 430,000 tons from 1.04 million tons, while production of Chile could rise to 440,000 tons from 410,000 tons, according to Oil World.

Peruvian exports of flour, used as animal feed, may fall to 510,000 tonnes in the period 2014-15 from 960,000 tons, while Chinese imports of the commodity could fall to 960,000 tons from 1.13 million tons, said the consultant.

World stocks could fall to close to 580,000 tons at the end of September 2015 from 780,000 tonnes the previous year, according to the report.

SOURCE: Aqua.cl