Copeinca has processed 15.44 percent of the total Peruvian quota, of which 4.93 percent came from third parties. It is told that Copeinca produced 120,000 MT of fishmeal and 30,500 MT of fish oil. Fish oil production had a 5.81 percent yield. CEO Samuel Dyer Coriat said that this is the first fishing season with ITQ has been a success.
He further said that the company is beginning to experience the efficiencies related to this new law. Production has been higher than last season with Olympic race fishing (15.44 percent vs. 14.36 percent) operating with significant fewer assets, 5 plants in the center north (PRE – ITQ = 10 plants) ) and 35 vessels (PRE -ITQ = 64 VESSELS). We look forward to the future seasons, in which we will achieve the expected 30-40% increase in EBITDA, admits Coriat.
As per the new law the maximum allowable catch limit of anchovy for indirect human consumption for the first fishing season was 3,500,000 MT and the season began on 20 April, 2009. It is reported that the real catch was 3,420,000 MT. Copeinca ASA is one of the largest fishmeal and fish oil producers in Peru. The Company produces its fishmeal and fish oil from anchovy harvested off the coast of Peru, and most of its production is exported. Key countries for export are China, Japan, Germany, Canada, Chile and Denmark.
