As far as the fish oil market is concerned, it is
a completely different story because much will
depend on the oil yield of the landings as well as the
EPA/DHA content. It is known that, at time of El-Niño,
oil yields are low. This is currently witnessed in the
north of Chile (see below). So, the market is not
expecting large oil production while demand for
“omega-3” remains highly centered on Peruvian
anchovy oil as the market is looking for EPA.
Assuming that the quota is filled and that the average
oil yield for the season stays around 1.5%, total oil
production during the season will remain below 17
Thd T. Consequently, the very wide price spread
between fish oil and rape oil is not expected to
narrow.