Total cumulative production of fishmeal and fish oil increased in March 2025 compared to the same period of 2024, according to IFFO, the Marine Ingredients Organization.
According to IFFO’s market intelligence – which accumulates data from IFFO members in Chile, Denmark, the Faroe Islands, Iceland, the Ivory Coast, Mauritius, Norway, U.K., U.S., Peru, South Africa, and Spain – global production is up roughly 29 percent in March 2025 compared to March 2024. The increase was largely thanks to a significant increase in Peru, and positive performances in Chile, the U.S., Spain, and Africa.
“As for fish oil, total cumulative output for the year through March 2025 was 34 percent up year over year, again mainly driven by Peru,” IFFO said. “The other regions reported a positive trend in cumulative fish oil production compared to January-March 2025, with the exception of the European countries.”
Peru recently announced the reactivation of anchovy fishing in the south, and set a 3 million metric ton (MT) total allowable catch for the North-Central anchovy fishing season. That TAC is the second-highest seasonal quota in the last decade, as the fishery had positive conditions going into the season.
As production increases globally, IFFO is also predicting demand for marine ingredients in China will be strong in 2025. The country recently enacted its annual fishing moratorium halting fishing in the country from 1 May until August and September, which means most of China’s raw materials to produce fishmeal and fish oil will come from imports. The halt comes as demand for feed increases.
“Farm-gate prices for several species with high fishmeal dietary needs have exceeded year-ago levels. As a result, higher domestic production of aquaculture, and better demand for marine ingredients is anticipated throughout 2025,” IFFO said.
IFFO added that pig farmers are also anticipating a positive second half to 2025 – which will also drive up the cost of feeds including fishmeal and fish oil.
