Fishmeal and fish oil production declined across most major producing regions in January 2026, continuing a pattern of constrained supply seen in recent years, according to IFFO.
The drop affected the majority of countries covered by IFFO’s member data, with the notable exceptions of the Denmark/Norway region and the USA, where output showed resilience.
Historically, global production has been heavily influenced by Peru’s anchovy harvests, with stronger seasons in previous years helping stabilise supply. However, current figures suggest a continuation of weaker trends seen through 2025.
“The anchovy biomass evaluation in the North-Centre remains underway, with official announcements on quotas and starting dates of the new fishing season in 2026 expected during the first half of April,” said Enrico Bachis, Market Research Director at IFFO.
Despite improved fishing conditions in southern Peru, output in the world’s largest producing nation remained below 2025 levels in February. This reflects tighter resource management and environmental variability, which have increasingly shaped production cycles compared to earlier, higher-yield periods.
IFFO data, covering countries including Chile, Norway, the UK and the USA, accounts for around 40% of global fishmeal production and 50% of fish oil output, underlining the significance of the reported slowdown.
Meanwhile, demand dynamics are shifting. In China, domestic marine ingredient production remains subdued, in line with recent trends, while fishmeal imports have declined. In contrast, fish oil imports have risen sharply, driven largely by growing use in direct human consumption.
China’s aquaculture and aquafeed production increased year-on-year through February, supported by high overwintering fish stocks. This is expected to drive solid first-quarter demand for fishmeal, particularly in southern regions.
