The world prices of fish and fishmeal in 2023 are therefore much stronger at 9.6% and 34% respectively compared to the baseline. The share of capture fisheries used for fishmeal will be slightly smaller in years of El Nino, owing to reduced anchoveta catches. In 2023, fishmeal obtained from by-products is expected reach 36% of total production in 2023, up from 28% in 2011-13.