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Fish Oil Market Report - November 2008
Less fish oil
Fish oil production mirrored that of fishmeal, and outputs in 2008 declined. In
the first half of the year, 332 000 tonnes were produced in the top five
producing countries, a 20% drop from the corresponding period of 2007. Both Peru and Chile reported
lower fish oil production, but the overall value went up steeply, due to
higher prices in the first half of 2008. Chile is very
concerned about the future of its horse mackerel resource, which has been
weak for several years now.
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Sharp drop in Peruvian fish oil prices
The prices of Peruvian fish oil declined sharply in the second half of 2008. The
drop is attributed to the falling trend since late in August in the price of
rapeseed oil which competes with fish oil. In salmon culture in Northern Europe, fish oil has been used
actively instead of high-priced rapeseed oil, this
is now changing again, as rapeseed oil is becoming less expensive. In
November 2008, fish oil from Peru was
selling at US$ 1 200/tonne, a 40% drop from the July 2008 peak.
Regarding menhaden fish oil from North America, fishing only started in July
because of bad weather, There have not been price fluctuations, contrary to
earlier predictions, with the prices staying at around US$ 1 500/tonne, which
are more or less at the same level as Peruvian fish oil.
Pregnant women who eat fish are more likely to have healthier and brighter
infants. These findings provide further evidence that the omega-3 fatty acids
found in fish and compounds in breast milk are beneficial for infant
development. The children whose mothers ate the most fish during pregnancy
were more likely to have better motor and cognitive skills. The study appeared
in the September 2008 issue of the American Journal of Clinical Nutrition. These
interesting results might boost the consumption of fish oil capsule even
further.
It is possible that new EU food legislation might create problems for fish
oil in 2009, as only fish fit for human consumption will be permitted for
fish oil capsule production from 1 January 2009. However,
Peru
hopes to meet these requirements by April 2009.
Fish oil prices bottomed out
The present market situation tends for a stabilization
in fish oil prices in coming months, as buyers are well covered, producers
have heavy fish oil stocks, and the market experiences lower vegetable
prices. In addition, the new production season in Peru is
likely to add substantial quantities of fish oil to the market.
By Helga
Josupeit
© FAO GLOBEFISH 2008
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