Peru’s North–Centre region anchoveta fleet has landed nearly all of its 1.63 million-tonne quota following the conclusion of the second fishing season, according to marine ingredients organisation IFFO.
IFFO stated that while data for the full year still requires confirmation, the organisation expects 2025 to have delivered slightly lower production of both fishmeal and fish oil compared with 2024.
Cumulative annual fishmeal production rose by approximately two per cent through November 2025 when compared to the same period in 2024. IFFO reported that the increase was driven by higher output across most regions, though African countries, Iceland, and the North Atlantic area saw a year-on-year decline.
Similarly, cumulative fish oil output through November 2025 showed a year-on-year increase of around seven per cent. IFFO noted that most countries recorded positive trends, with the exception of Peru, where lower oil yields played a significant role in a decline.
Enrico Bachis, Market Research Director at IFFO, said, “This is positive news.” The current data is based on statistics from members in Chile, Denmark, Faroe Islands, Iceland, Ivory Coast, Mauritius, Norway, the UK, the US, Peru, South Africa, and Spain.
These regions account for 40 per cent of global fishmeal production and 50 per cent of fish oil output.
In China, domestic production of marine ingredients is projected by IFFO to fall by 20 per cent to 30 per cent from 2024 levels. IFFO stated that local production remains constrained by higher costs and lower profitability, with limited expectations for improvement through the rest of the season ending in April 2026.
China's global fishmeal imports increased by about five per cent through 2025, with Peru, Vietnam, and Chile acting as the primary suppliers.
China's domestic aquaculture output is expected by IFFO to exceed 2024 levels. Demand for fishmeal from the aquaculture sector is set to rise gradually ahead of the March or April 2026 season.
Meanwhile, prices for soybean meal and corn have risen recently due to stronger demand from the feed sector.