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A new report released by IFFO, the Marine Ingredients Organization, has found that while raw material production for fishmeal and fish oil saw an improvement during August, the long-term industry outlook remains gloomy. Based on data collected by IFFO from its members, the August figures indicated higher global production compared to the same period last year. However, for the year to date, fishmeal production is still trailing 45 percent behind the same period of 2025, while fish oil production has recorded a 26 percent decline.
The slight gains observed in August were primarily associated with Chile, Spain, and the United States, which brought in notably larger quantities of raw material. Despite these improvements, the closure of the anchovy fishing season in Peru is expected to continue weighing heavily on overall global totals. Enrico Bachis, the Market Research Director at IFFO, noted that 2026 is projected to see a reduction in the global supply of marine ingredients, dropping to less than 4.6 million metric tons for fishmeal. This figure would represent the lowest global fishmeal supply since 2016, when production stood at 4.53 million metric tons.
Bachis explained that raw materials from pelagic and demersal fish are expected to be down compared to previous cycles, while fishmeal production from other species is anticipated to increase slightly. Regarding fish oil, he stated that the current year may also deliver a reduction in global supply to 1.15 million metric tons. This would mark the lowest global supply since 2016, when total production was estimated at approximately 1.13 million metric tons.
IFFO emphasized that the El Niño phenomenon remains a significant concern, as warming ocean temperatures in Peru could potentially continue to suppress the anchovy catch. This is a critical factor for the industry, as Peruvian anchovies represent 20 percent of the world's total fishmeal and fish oil production.
Source: SeafoodSource