LISBON, Portugal -- Undercurrent News was reporting live from the annual conference of the Marine Ingredients Organisation held in Lisbon, Portugal, on Oct. 21 - 23.

The event brought together experts from across the fishmeal and fish oil industry to share expert analysis, production and consumption data, and trade statistics. Below are all the biggest stories from the third day of the event.

Cautious industry optimism on Peru’s bumper second season anchovy quota

Peru’s recently announced anchovy quota of 2.51 million metric tons for the first fishing season has drawn cautious optimism from the industry, according to IFFO market research director Enrico Bachis. Click here to read the full story.

EU relaxes proposals on MOAH regulation in fish oil products

The EU has significantly relaxed its proposed limits on mineral oil aromatic hydrocarbons (MOAH) in fish oil products, following industry concerns about testing capabilities and implementation challenges. Click here for more.

Tokyo to host IFFO’s annual conference in 2025

IFFO announced Tokyo as the host city for its 2025 annual conference. Read more here.

Dearth of certified fish oil fuelled price rise despite global surplus

Global fish oil markets continue to face elevated prices despite increased supply, largely due to a severe shortage of certified omega-3 sources, according to veteran trader Christian Meinich at Chr.Holtermann. Read the full story here.

Omega-3 consumption growth slows amid record prices

Global omega-3 ingredient demand grew by just 1.4% in 2023, marking a significant slowdown from historical growth rates of 2-4%, according to Aldo Bernasconi, vice president of data science at the Global Organization for EPA and DHA Omega-3s. You can read that in full here.

‘Remarkable’ increase in Chinese fishmeal production in 2023

China’s fishmeal production surged to 623,000 metric tons in 2023, with whole fish accounting for 83% of the output, marking a significant increase in domestic production despite overall declining marine catch trends since 2016, according to IFFO. Read more on that here.

Global fish oil supply, consumption down in 2023

Global fish oil production and consumption fell markedly in 2023, driven by aquaculture reducing inclusion rates, according to IFFO's Bachis, with Peru posting the largest decline among top exporters. Read more details here.

Global fishmeal production, use fell in 2023 

Global production and use of fishmeal fell “across the board” in 2023, Bachis added, although India reported an increase. You can read more of his fishmeal market analysis here.