Fishmeal production in 2024 has seen a significant boost, driven by Peru’s strong anchovy season, according to The International Fishmeal and Fish Oil Organisation (IFFO).
Through September 2024, global fishmeal production increased by nearly 23% compared to the same period in 2023. This rise is primarily due to a substantial uptick in Peru’s supply, which accounts for 20% of global fishmeal and fish oil production.
“Peru’s strong anchovy seasons are having a positive impact on fishmeal production, contributing to a healthier supply chain for the aquaculture industry,” said IFFO’s spokesperson.
“These gains are crucial as the global demand for high-quality fishmeal and fish oil continues to rise.”
Looking forward
In 2024, Peru has already fulfilled almost 20% of its 2.51 million-metric tonne fishmeal quota, starting its season on 1 November. While global fishmeal production has surged, fish oil output has shown only a modest increase of 1%, mainly due to Peru’s growth, with other regions experiencing declines.
China’s aquaculture sector, however, has seen subdued production levels. Lower wild fish captures have kept fishmeal and fish oil production below 2023 levels.
This data are based on statistics shared by IFFO’s membership, which accounts for 55% of global marine ingredients production (Peru, Chile, Denmark / Norway, Iceland / North Atlantic, USA, African countries and Spain).
Looking forward, with China entering its low season, fishmeal consumption is expected to rise again in April 2025 as aquaculture production ramps up.
As global aquaculture and fishmeal demands increase, IFFO said that these shifts in production will have lasting effects on the global seafood supply chain.
