Peru’s first anchoveta fishing season remains the key factor influencing global marine ingredients markets, according to IFFO.
The industry body said fishing activity in Peru has progressed slowly due to a high proportion of juvenile fish and precautionary management measures linked to ongoing Coastal El Niño conditions. A fishing ban covering the country’s north-central region was extended on 27 May and is scheduled to remain in place until 10 June.
Peru typically accounts for around 20% of global fishmeal and fish oil production.
Elsewhere, fishmeal production in Chile remains below year-earlier levels despite stable availability of salmon by-products. In the United States, Gulf menhaden fishing has started ahead of last year’s pace, while blue whiting activity in Northern Europe has slowed as the season winds down in Iceland and Norway.
IFFO also noted that China’s domestic production of fishmeal and fish oil remains constrained following seasonal fishing bans introduced on 1 May. Supply is currently reliant on frozen raw material inventories and processing by-products.
Despite the restrictions, Chinese fishmeal and fish oil production during the first four months of 2026 exceeded year-earlier levels, supported by tight supply and recovering demand.
The organisation said aquafeed demand in China faces pressure from weak farm-gate prices and higher feed ingredient costs, with feed producers expecting June and July to be the most challenging months of the year for sales and profitability.
