According to the organisation’s latest report, this increase was primarily influenced by a 300 percent increase in the Peruvian output, while Chile, the USA, Spain and the African countries also reported positive trends.
As for fish oil, total output in January 2025 was 71 percent up year over year, again mainly driven by Peru. The other regions also reported an increased fish oil production compared to January 2024, with the exception of the North European countries.
Reduced demand in China
According to the China Feed Industry Association (CFIA), the country’s aquafeed production in 2024 decreased by 3.5 percent year-on-year and domestic aquafeed sales in 2024 decreased by approximately 10 percent. The decline was primarily driven by unfavourable weather conditions for aquaculture, generally weak farm-gate prices, and farmers’ attempts to reduce costs by limiting compound feed utilisation.
Similarly, in 2024, pig feed production (another user of fishmeal) fell by 3.9 percent year-on-year, due to lower pig supply and pork production.
Until the next fishing season in September 2025, most of the raw material for China’s production of fishmeal and fish oil is expected to come from frozen fish and imports, such as sardines.
* These data are 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 percent of global fishmeal production and 50 percent of fish oil output.
