Update on the European supply perspective 2023

At the 60th Annual IFFO Conference 23–27 October in Lima, Peru, Anne Mette Bæk, Managing Director of EFFOP, presented an update on the European supply perspective 2023 on behalf of EFFOP. See the presentation here.

On average in the period 2017-2021, the European producers produced 575.000 tonnes of fishmeal and 170.000 tonnes of fish oil based on a raw material intake of 2.860.000 tonnes. However, in 2021 European producers only received 2.400.000 tonnes of raw material and 40% of this was trimmings – well below average.

The presented supply expectations in 2023 was based on the ICES catch recommendations of the major North European fish stocks used directly for FM/FO and trimmings. The over all expectations for 2023 on wholefish and byproducts quotas were only a slight reduction from 2022 because of the large increase in the blue whiting catch advice for 2023.

Anne Mette touched a little on the regulations and geopolitics for the supply chain. As in other parts of the world Europe is hit by inflation and rising energy prices. Gas imports are central to European industry and production and with imports from Russia down to 10 percent of total imports, energy supplies have shifted to other suppliers and Europe’s gas consumption has fallen by more than 10 per cent in the first eight months of the year compared to the same period in 2021.