News & Views
IFFO releases fish feed trends analysis for 2023

IFFO – The Marine Ingredients Organization has released a market trends analysis for 2023.

The cumulative total fishmeal production by countries (Peru, Chile, Denmark, Norway, Iceland, UK, Ireland and Faroe Islands, USA, South Africa, Ivory Coast and Mauritius, Spain) during the first eight months of 2023 was down by approximately 28 per cent compared to the cumulative production reported through August 2022. 

According to a press release by IFFO, “The predominant factor contributing to this decline must be attributed to the 70 per cent YoY (year over year) decrease in Peru.” 

Total cumulative for fish oil in the first eight months of 2023 also went down 24 per cent YoY. Chile was the only country that registered a positive change YoY because of healthier catches and higher-than-average oil yields in the south of the country.

Meanwhile, the Chinese aquaculture supply chain is dealing with increasing feeding costs and weakened consumption of aquatic products.

“This can be attributed to the unstable global supply of feed ingredients and falling farm-gate prices for many species, stemming from unforeseen shifts in domestic demand,” the press release states, adding that all fishing grounds are now open in China.