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In the case of fish oil, The Marine Ingredients Organisation forecasts production will reach 1.2 million tons.

While total cumulative annual fishmeal production increased by approximately 8%, fish oil production recorded a year-on-year increase of around 4%.

Rabobank warns that this phenomenon will lead to greater price volatility and the establishment of higher benchmarks during future supply shocks.

IFFO, The Marine Ingredients Organisation, said production of both fishmeal and fish oil is on track, and therefore maintains its annual forecast.

Starting May 1, 2025, all facility audits will be conducted exclusively against Version 3 (V3).

The decline was mainly driven by lower production in Peru and northern European countries, while production in China remains limited.