China Fishery Group says it has bought Pesquera Alejandria S.A.C. for US$95 million ($109 million).

Alejandria owns a steam-dried fishmeal processing plant in Peru with a processing capacity of 40 metric tonnes of raw fish per hour, together with 0.97% quota share in the North of Peru and 3.04% quota share in the South of Peru.

With this acquisition, China Fishery says the group’s share of the annual allowable catch of Peruvian Anchovy has reached 6.05% in North of Peru and 10.91% in South of Peru.

The industrial fishing group average market price of fishmeal is on a rising trend. This is due to increasing demand from the aquaculture and animal-farming industries, particularly in China. With only a relatively limited supply in the market, fishmeal pricing is expected to remain strong over the long-term. The average market price of fishmeal has risen from approximately US$900 per metric tonnes in the third quarter of 2009 to over US$1,900 per metric tonnes currently.