Status and trends on the use of small pelagic fish species in Peru 365
development and growth during the early ages of fish, birds, pigs and sheep. The main
competitor to fishmeal (in particular that of standard quality meal) is soy meal, which
has 44 percent protein compared to the 64 percent protein content of standard fishmeal
and the 72 percent content of super prime.
Two dynamic markets are recognized, that of Asia, with a growing demand mainly
in China, Thailand and Japan; and Europe, whose market has been affected by the
restriction of the European Union (EU) on the use of fishmeal for ruminants.
In 1993, aquaculture used 16 percent of the fishmeal produced and 29 percent of the
fish oil produced. In 2004, it used nearly 34 percent of the fishmeal (and was the most
important user) and 56 percent of the fish oil, showing a greater increase in use than
the traditional users of fishmeal (for livestock, pigs and birds).
8.3.1 Perspectives on the commercialization of fishery products
Approximately 5 percent of the market of animal feeds is fishmeal, 21 percent is soy
meal and the remainder is meals derived from other sources. Increasing numbers of
Asian countries are members of the World Trade Organization (WTO), a situation
which will facilitate trade on the international markets for fishery products. There are
also important changes which promote commerce, such as the labelling and traceability
of products, which reflect the growing importance to consumers of the environmental
and social impacts of fishing and farming. Since 25 November 2005, the labels on
animal feeds sold in the EU must specify all the ingredients.
The price of fish oil has shown an even more dramatic change than that of fishmeal,
due to its use in aquaculture, and very minor use in products for human health as a
source of omega-3 fatty acids. The demand has doubled the price of fish oil since the
early 1990s. Peru currently exports all its fish oil.
8.3.2 The Chinese market
Fish has been an important food source in China for more than 3 000 years. In 2002,
China displaced Thailand as the primary producer of fishery products in the world,
with an average industry growth rate of 10 percent since the 1990s. It is also the main
buyer of fishmeal. In a little more than one decade, fishmeal imports have multiplied
4.5 times. Chinese aquaculture production is expected to reach 30 million tonnes in
2010, constituting 65 percent of China’s total fish production (FAO, 2007).
The International Food Policy Research Institute (IFPRI) projected an annual
growth of 2.6 percent for foodfish production coming from the aquaculture sector
from 1997 to 2020 (FAO, 2007), although this may be an underestimate. The average
rate of growth of the aquaculture sector in China has been high; 17.1 percent from 1980
to 1990 and 33.8 percent from 1990 to 2000 (FAO, 2005). In China in 1992, aquaculture
contributed 55.5 percent of the total fish production and in 2002, its contribution rose
to 79.8 percent. In 1992 the annual per capita consumption of aquaculture products was
7.1 kg and in 2002, increased to 21.8 kg, an average yearly growth of 11.9 percent.
Peru is the major fishmeal suppler for China. In 2005, Peru exported 1 049 000
tonnes of fishmeal to China, while in 2004, the volume of fishmeal exported was 810
638 tonnes. It is estimated that most of the fishmeal imported by China is used for
aquaculture.
8.3.3 The European market
In Europe, fish and molluscs are also traditionally farmed. At the moment, population
growth in Europe is slower than in Asia, and the consumption of fish is already high
and unlikely to increase drastically, except in the countries of the former Soviet Union.
In recent years, the volume of fishmeal used in Europe has decreased. The restriction
on the use of fishmeal in foods for ruminants has not been fully compensated by the
increased use by aquaculture.