By August 2025, total cumulative fishmeal production was approximately eight percent higher than during the same period in 2024. According to IFFO's market intelligence reports, the increase was driven by stronger output in most regions, with Northern Europe the only area reporting a year-on-year decline.

 

Cumulative fish oil output through August 2025 also showed a year-on-year increase of around four percent. Most countries recorded positive trends compared to January-August 2024, apart from Spain and Peru. Lower oil yields during Peru's recent fishing season were identified as a major factor in the country's reduced contribution to global supply.

 

IFFO's data are based on statistics shared by its members in Chile, Denmark, the Faroe Islands, Iceland, Ivory Coast, Mauritius, Norway, the UK, the USA, Peru, South Africa and Spain, representing 40% of global fishmeal production and 50% of total fishoil output.

 

In China, the Ministry of Agriculture reported that domestic farmed fish production during the first eight months of 2025 surpassed the same period in 2024, despite disruptions caused by extreme weather, including high temperatures and typhoons. The peak season for aquafeed production and marine ingredient demand is expected to taper off in October as temperatures fall.

 

Domestic production of marine ingredients declined in the first nine months of 2025 compared to last year, although strong demand for fishmeal is expected to drive a short-term recovery.

 

Fishmeal consumption in aquaculture has already exceeded 2024 levels, supported by improved profitability among several key farmed species. However, the Chinese pig sector continues to face weaker demand for piglet feed due to declining piglet prices.

 

Farmers remain cautious, reflecting a loss of confidence that has persisted over the past six months. Measures including sow herd reduction and limits on repeated fattening have been introduced to stabilise the market. While these steps may strengthen pig prices in the longer term, they are expected to result in reduced overall pig and piglet supply.

 

Industry analysts suggest that sustained global aquaculture expansion, combined with gradual recovery in Peruvian production, may keep fishmeal and fish oil markets firm through the remainder of 2025. However, regional weather disruption and feed sector volatility continue to pose risks to both supply stability and price trends.