The Group is one of the world’s largest producers of fishmeal and fish oil. Fishmeal is a high protein product used mainly as an ingredient in feed for farming fish (aquaculture), pigs, and poultry. It has unique qualities which make it the preferred protein source for the aquaculture industry.
Fish oil is a distilled by-product of the fishmeal production process. It is a highly valued source of omega-3 fatty acids, so important for human health and development. It is primarily used in aquaculture feed, and increasingly in health supplements containing omega-3 for human consumption. It is the addition of fish oil to fish feed which provides farmed fish with its all-important omega-3 content.
The Group holds the largest quota for the harvest of Anchovy in Peru. The Anchovy is a small pelagic fish which is abundant in Peruvian waters, making this the largest fishery in the world by volume of catch. The Group’s fleet harvests the catch within its quota limits and lands it at one of ten production facilities along the coast of Peru. The Anchovy is processed into fishmeal and fish oil through a production process mainly consisting of heating, pressing, drying and milling. The fishmeal and fish oil are exported to customers throughout the world, with China and Europe being the major export destinations.
The majority of future growth in seafood production will come from aquaculture, with the OECD-FAO predicting aquaculture to grow in excess of 2.5% per annum through to 2024. This growth will accelerate demand for fishmeal and fish oil, given that they are essential feed ingredients for aquaculture. In line with this dynamic, the fishmeal price has continued with its upward trend over the last 10 years.
All of the Group’s production facilities in Peru are certified under the International Fishmeal and Fish Oil Organisation’s Responsible Sourcing standard. Both our fishmeal and fish oil undergo strict quality control inspections and laboratory analysis throughout the production process. Therefore, the fishmeal and fish oil products supplied to our customers are harvested from a well-managed sustainable fishery and are of the highest quality standard.