In March 2025, total cumulative fishmeal production reported in IFFO’s market intelligence* increased by approximately 29% compared to the same period in 2024. This increase was primarily influenced by a significant uptick in Peru, while Chile, the USA, Spain and the African countries also reported a positive performance compared to January-March 2024.
As for fish oil, total cumulative output for the year through March 2025 was 34% up year over year, again mainly driven by Peru. The other regions reported a positive trend in cumulative fish oil production compared to January-March 2025, with the exception of the European countries.
Chinese demand for marine ingredients expected to be promising in 2025
China’s latest fishing bans were implemented on May 1. Until the next fishing season in August and September, most of the raw materials to produce fishmeal and fish oil will come from frozen fish and raw materials imports, such as sardine raw materials.
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.
Similarly, pig farmers have expressed growing optimism for the second half of the year, prompting an acceleration in piglet purchases. Strong, unexpected demand for piglets to date is likely to drive up piglet feed production and fishmeal consumption in 2025. Prices of plant-based feed ingredients, such as soybean meal, corn, and rapeseed meal, have risen due to supply constraints exacerbated partially by the ongoing trade conflict. In response, feed producers are actively seeking alternatives to soybean meal or reducing its inclusion in feed formulas to better manage overall costs.
* 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.
