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.
Total cumulative output of fish oil for the year through March 2025 was 34% up year over year, again mainly driven by production in Peru. Other regions reported a positive trend in cumulative fish oil production compared to January-March 2025, with the exception of the European countries.
In China, demand for marine ingredients is expected to be promising in 2025. China’s latest fishing bans were implemented on 1st May. 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. Farm-gate prices for several species with high fishmeal dietary needs have exceeded the levels of a year ago. As a result, higher domestic production of aquaculture, and better demand for marine ingredients is anticipated throughout 2025.
The pork sector has 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.
