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Global fishmeal production tumbled 49% year on year during the first seven months of 2026, according to marine ingredients organisation IFFO, as the El Niño weather pattern disrupted anchovy catches across South America and tightened global supplies of two key aquafeed ingredients.
Fish oil output recorded a 30% decline over the same period, underscoring the severity of the supply shock hitting the marine ingredients value chain.
The scale of the contraction is particularly significant given that Peru alone typically accounts for roughly 20% of global fishmeal and fish oil production. The country's first North-Central anchoveta season of 2026 was repeatedly interrupted by fishing closures triggered by unusually warm waters and a high incidence of juvenile fish in the catch.
Peru had set a quota of 1.91 million tonnes for the season, but only around a quarter of that volume had been landed by the time fishing was suspended on 10 June.
Peru and Chile together accounted for the bulk of this year's global production shortfall, although weaker catches in parts of Africa and Northern Europe compounded the decline.
The development carries direct implications for salmon producers, since fishmeal and particularly fish oil remain high-value components of salmon feed despite the industry's growing reliance on vegetable proteins and other alternative ingredients.
IFFO suggested that some of the South American shortfall could be offset later in the year as fishing activity picks up across Asia.
'The reduced fishmeal and fish oil supply from South America might be offset by some of the regions in Asia that have their peak fishing season in the last quarter of the year,' said Enrico Bachis, IFFO's market research director, highlighting China, India and Oman as potential sources of additional supply.
China resumed domestic fishmeal and fish oil production in August, although IFFO cautioned that the availability of raw material in the country remained uncertain.
Meanwhile, Chinese aquafeed demand has entered its seasonal peak, yet overall fishmeal consumption continues to trail last year's level amid elevated farming costs and softer demand from certain aquaculture species and the pig sector.
Source: Salmon Business