Saving Seafood

Fishmeal market turns bearish on good production, ASF, high China stocks

January 11, 2019 — The fishmeal market is described as bearish as good production in Peru weighs on market prices while stocks mount in China, as demand there takes a bigger hit than expected from an African Swine Fever (ASF) outbreak.

“It’s all bearish news,” James Frank, director of Peruvian fishmeal trading company MSICeres, told Undercurrent News Tuesday (Jan. 8). “The market is dropping in China as local fishmeal is competing with imported and port stocks are still high.”

“The [ASF] outbreak is taking a larger toll on Chinese hog herds than expected initially,” Jean-Francois Mittaine, an industry expert with 30 years experience, told Undercurrent. “I heard the situation has led to significantly lower usage of fishmeal.”

Stocks of fishmeal held in Chinese ports have hit a 10-year high for the time of year, at 186,000 metric tons, according to Chinese government figures. According to Undercurrent’s price portal, in Shanghai port, Peruvian superprime fishmeal offer prices, ex-warehouse, have fallen to CNY 10,700 per metric ton ($1,566/t), down CNY 1,200/t since mid-October.

Read the full story at Undercurrent News

Mislabeling Food in Peru Stirs Overfishing Worries

December 27, 2018 — In Peru, ceviche is not just the national dish but also a way of life.

The country may be best known for its Inca heritage but it is also a fishing superpower while its acclaimed culinary renaissance is arguably a greater source of local pride than Machu Picchu.

Even high in the Andes, residents are accustomed to lunching on the marinated seafood salad made with fresh fish trucked straight up from the Pacific Coast.

But what may shock Peruvians is learning that due to mislabeling they are unwittingly consuming endangered shark species. According to Juan Carlos Riveros, science director for the Peruvian arm of the international marine conservation nonprofit Oceana, 8 in 10 customers here fall for the misleading practice.

A recent DNA study by nonprofits Oceana and ProDelphinius found that 43 percent of the 450 samples taken from fish in Peruvian restaurants, supermarkets and fishing terminals were mislabeled. The reason for that is simple, conservationists say; the number of fish in Peru’s heavily exploited waters is dwindling. Sometimes inadvertent and sometimes deliberate, mislabeling a catch is always ecologically damaging given the dramatic and unsustainable fall in shark populations around the world.

Read the full story at U.S. News

SFP report: Path to mahi sustainability requires more data

December 20, 2018 — The Sustainable Fisheries Partnership released its latest sector report on mahi, finding that the biggest obstacle to the fishery reaching its “Target 75” goal is a lack of data in the fishery.

The report, released on 19 December, indicates that 59.3 percent of the mahi fishery can be considered either sustainable or improving. That number is largely related to eight fishery improvement projects (FIP) covering the mahi fishery, with the largest of those centered in Peru.

“The mahi-mahi FIP in Peru produces by far the largest of this ‘improving’ volume (53,297 tons),” the SFP report said

Peru produces the largest amount of mahi in the world by a significant margin, with 61,900 metric tons (MT) of mahi produced in 2015. That total is followed by Ecuador, at 11,400 MT; and Indonesia at 11,300 MT. Together, the three countries represent 70 percent of the world’s mahi production. The three countries currently have FIPs that could be expanded to cover larger portions of their fisheries.

“Mahi is an important large pelagic commodity, especially in the U.S.,” SFP CEO Jim Cannon said. “We’re pleased to see so many fisheries already functioning sustainably or involved in improvement projects that are showing progress. This is good news for the sector.”

According to SFP, if FIPs in Peru, Ecuador, Indonesia, and Costa Rica are expanded to cover the entirety of those nation’s production, the improving category would increase by another 15.3 percent.

Read the full story at Seafood Source

Research shows inefficient fishing costs global companies over $51bn annually

November 28, 2018 — An international research initiative has calculated that fishing companies worldwide are losing between $51-$83 billion in unrealized economic benefits every year due to overexploitation and underperforming fish stocks.

According to research undertaken by experts at the organization Sea Around Us, companies are spending too much for the fish, revenue and profits that they ultimately generate.

The organization’s latest report studied menhaden fisheries off the coast of the US and anchovies off the west shores of Peru. In both cases, Sea Around Us believes that profits could be substantially increased if stocks had been fished more intelligently.

“We found that Atlantic and Gulf menhaden stocks were in a healthy state and were being exploited below sustainable levels. By not augmenting their catches the two largest companies targeting them were losing $50 million in additional revenues and $12 million in profits,” lead author Tim Cashion said in a statement.

Meanwhile, Sea Around Us identified that Peru could also have increased its annual revenues by $3m – $9.1m from 2011 to 2015 if anchovy stocks had been allowed to recover in that time.

Read the full story at Undercurrent News

Peru becomes second nation to put fishing vessels on public monitoring site

October 29th, 2018 — Peru has taken a “bold” step toward making its commercial fishing practices more transparent, putting at least 1,300 of its industrial fishing vessels on a publicly accessible website so that their locations can be monitored in real-time, Global Fishing Watch (GFW) and Oceana report in a jointly issued statement.

The change marks a 10-fold increase in the number of Peruvian vessels detectable by GFW’s Automatic Identification System (AIS), and represents a big boost in efforts to combat illegal, unreported and unregulated fishing, the groups said.

Read the full story at Undercurrent News

Fishmeal industry optimistic on upcoming Peruvian anchovy season

October 15, 2018 — Fishmeal and fish oil industry sources are optimistic about the upcoming Peruvian anchovy fishing season, which might start earlier than expected, in mid-November.

Peru’s ministry of production (Produce) is expected to announce the start of the fishing season around the end of October, taking into account the outcome of the maritime institute’s ongoing evaluation.

“Sea conditions are optimal and good reproduction has already started on the acoustic cruise that will end at the end of October,” said Humberto Speziani, IFFO board member and former president of IFFO and of the Peruvian National Fisheries Society (SNP).

Although the evaluation hasn’t yet been completed, it seems that biomass in the water is abundant, which could lead to a quota of 2 million-2.5m metric tons, according to sources. Despite rumors that the quota could be as high as 2.5m metric tons, 2m-2.2m metric tons is more in line with the historical average, one source pointed out.

“2m-2.5m metric tons is quite a reliable assumption of quota,” Jean-Francois Mittaine, an analyst with 30 years experience in the sector, told Undercurrent News, adding that fishmeal and fish oil prices were currently “quite stable”.

Super prime fishmeal is currently priced at around $1,630-1,650 per metric ton, while fish oil is at around $1,350/t, according to industry sources in Peru. Meanwhile, prices in China were slightly falling, driven by expectations of a good upcoming Peruvian season, according to sources.

Read the full story at Undercurrent News

Japan, Peru using cutting-edge technology to combat IUU fishing

October 2, 2018 — Japan and Peru, two of the world’s biggest players when it comes to seafood, are hoping to crack down on illegal, unreported, and unregulated (IUU) fishing in their exclusive economic zones through increased use of cutting-edge technology.

A key player in both countries’ efforts is the Global Fishing Watch, an international nonprofit organization with the goal of “advancing sustainability of the oceans through increased transparency.” Its mapping platform, which can be found on the GFW website, allows anyone to view or download data and investigate global fishing activity in near real-time, for free. GFW was founded in 2015 through a collaboration between Oceana, SkyTruth, and Google.

Global Fishing Watch’s tracking of automatic identification system (AIS) messages from ocean-going boats is now being used to fight illegal transshipment inside and near Japan’s exclusive economic zone. GFW recently signed onto a collaboration with the Japan Fisheries Research and Education Agency (FRA) and the Australian National Centre for Ocean Resources and Security (ANCORS) at the University of Wollongong to investigate IUU fishing and strengthen transparency and governance of fisheries within the region.

To detect pairs of vessels meeting at sea, GFW and analysts at SkyTruth and Google applied machine learning algorithms to more than 30 billion automatic identification system (AIS) messages from ocean-going boats to find tell-tale transshipment behavior, such as two vessels alongside each other long enough to transfer catch, crew, or supplies. AIS is a collision avoidance system that constantly transmits a vessel’s location at sea. These transmissions are collected by satellite receivers and delivered to GFW for automated processing. Nearly all refrigerated cargo vessels carry AIS and those ships receiving fish can be identified and their activity plotted on the map.

Read the full story at Seafood Source

Peru anchovy biomass at record high

September 20, 2018 — During the last century Peru’s anchovy biomass reached its highest level in 25,000 years, according to Francois Gerlotto, a researcher with France’s Institute for Development Research (IRD).

The message is that “we are at a high level of productivity and that we must adapt to climate variability”, said the French scientist during his presentation at the Marine Sustainability Conference, organized by Peru’s National Fisheries Society.

“While it is true that we must reduce fishing pressure when biomass is at low levels, we must not believe that this will solve everything, because there are other variables that must be taken into account to ensure the sustainability of the sea,” he said.

Gerlotto also said that “the solution is not to stop fishing to protect the ecosystem, but to produce food more efficiently”, echoing the words of recently re-elected International Coalition of Fishing Associations (ICFA) president Javier Garat.

Gerlotto, who is also a member of the Scientific Committee of the Regional Organization of Fisheries Management of the South Pacific (OROP-PS), reported that this institution has proposed the creation of a working group to monitor the habitat of fishing resources.

In that sense, he considered that the possible return of some species, such as horse mackerel and sardine, that are not present in Peruvian waters currently, will depend on the conditions of their habitat.

Read the full story at Undercurrent News

Peru’s Anchovy Season Has Officially Ended With Shortfall

February 2, 2018 — SEAFOOD NEWS — Peru’s anchovy fishing season officially concluded at the end of January. Fishing was constrained by fishing bans and restrictions put in place due to the large percentage of juveniles.

The bans were lifted in early January, but the season closed less than a month later due to the beginning of spawning.

According to Wayne Bacon of Hammersmith Marketing Ltd., the Peruvian anchovy fishery failed to reach their quota. The total catch appears to be at 650,000 m/t, which is under the anticipated quota by approximately 850,000 tons.

The catch will produce 148,000 metric tons of fishmeal.

Trade sources told Bacon that approximately 160,000 m/t of fishmeal has been presold. With production expected to be less than 150,000 metric tons, there is speculaton that there will be limited supplies for new sales, not already contracted.

This sets the stage for prices of fishmeal to increase.

This story originally appeared on Seafoodnews.com, a subscription site. It is reprinted with permission.