Due to the high presence of juvenile fish in daily catches, Peruvian authorities announced the end of the first 2025 fishing season in the North-Central zone of Peru on July 23, allowing an additional 24-hour window for final landings. More than 80% of the 3-million-metric-ton anchovy quota has been fulfilled in the North-Central region, while the second fishing season has officially opened in the South.
According to IFFO’s market intelligence reports* from May 2025, total cumulative fishmeal production decreased by approximately 2% compared to the same period in 2024. This decline was primarily driven by reduced output in Peru and Northern European countries. All other regions reported year-over-year growth in fishmeal production during the same period.
As for fish oil, total cumulative output for the year through May 2025 slightly decreased year-on-year. Similarly to fishmeal, most countries showed a positive trend compared to January-May 2024, but this was nearly offset by declines in the performance of European countries and Peru. In the case of Peru, the lower oil yields reported during the current season played a significant role in the decline.
“IFFO’s 2025 estimates for fishmeal and fish oil remain at 5.6 million tons of fishmeal and 1.2-1.3 million tons of fish oil,” said Enrico Bachis, IFFO’s market research director.
In China, domestic production of marine ingredients remains subdued for the time being, as fishing bans remain in place along the Chinese coastline. The main raw materials for producing fishmeal and fish oil during the summertime tend to come from frozen fish and byproducts from processing facilities. Domestic production of marine ingredients in the first half of 2025 decreased in comparison to the same period a year ago.
Demand for aquafeed has not increased much in the first half of 2025. Several factors contribute to this subdued outlook, starting from a smaller carryover stock of farmed species from 2024, farmers’ active sales to take advantage of partial price recoveries, and delayed spring stocking due to lower temperatures. However, the increased stocking activity in the first half of this year, coupled with declining feed costs and a more optimistic outlook for profitability, suggests that aquafeed demand might rebound in the second half of 2025. Overall, total aquafeed demand for the year may surpass that of 2024, boding well for a robust demand for marine ingredients too.
* This data is based on statistics shared by IFFO members in Chile, Denmark, Faroe Islands, Iceland, Ivory Coast, Mauritius, Norway, the UK, the USA, Peru, South Africa and Spain, accounting for 40% of global fishmeal production and 50% of fish oil output.
