PMJ“2022 was the year when world opened up again, and we fully embraced this at IFFO with multiple events, stakeholder meetings and visits to our members around the world. Our Members’ Meeting in Miami and Annual Conference in Lima broke records in attendance and offered unique insights on our industry. The IFFO team represented the industry throughout the world, engaging with value chain representatives, news platforms, NGOs, and contributing to the main themes and discussions about climate change, biodiversity, food security and fisheries management. To add to these discussions, we developed a nutrition campaign and you can find out more about this and all our other work in this report.”

Petter Martin Johannessen, IFFO Director General


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1. Supporting our members 4. Leading projects
2. Events & Webinars   5. Finance 
3. Outreach & Press 6. Governance 

Supporting our members

With a membership spanning back over 60 years, IFFO continues to provide a unique range of services and benefits for marine ingredient producers and their related businesses. With 239 members in total, spanning 40 countries, IFFO membership is growing with 16 new Non-Producer and 2 Producer members joining in 2022. This success is echoed by the latest members survey, with 96% of members rating IFFO’s services as either excellent or good.

Beyond the events and communications support, IFFO supports members through a wide range of projects and services, some of which are highlighted in the following:

Click on the icons below to explore more:

Market Coverage and Reports
Market Coverage and Reports

Market Coverage and Reports

With IFFO’s members representing 55% of the total world production and around 80% of the total annual trade worldwide; and an unrivalled international network, IFFO’s data continues to be unique. IFFO published a record 157 reports in 2022, along with interactive infographics covering various aspects of both the demand and supply of the marine ingredients. Published weekly and monthly, IFFO’s market reports gather data from 47 countries and include information on fishmeal and fish oil prices, regulatory information and other related commodities markets. As part of continuing improvements, in 2022 the analysis on the global demand was further strengthened, with more detailed statistics on the Asians markets. With a growing network, the markets team regularly collaborates with UNFAO and OECD. In 2022, the team also received more than 200 ad hoc queries, supporting both members and stakeholders. Find out more in our members area


The IFFO China team supports members with MARA (China Ministry of Agriculture) import license applications, a service which costs significantly lower than from other service providers and that opened up to non-members in 2022. The team also continues to coordinate with the General Administration of Customs China (GACC) and relevant Embassies in Beijing on China market access issues for IFFO members. In-depth data on the China market is also produced and included in IFFO’s market reports, along with a monthly China Outlook report. Focus reports are also produced, such as a China farming species report on the Snakehead industry. As well as a monthly newsletter, the team engages with a wide range of stakeholders in China on various platforms, most notably WeChat, Bilibili and Weibo. Posts focus on IFFO's published articles and also vodcast videos, which have proved very popular.  


IFFO’s SDG hub continues to grow with an impressive range of examples of how companies are both mitigating and adapting to climate change. It shows a wide range of action taken from across the industry and provides an important platform to share best practice. Visit the SDG hub
Member Committees
Member Committees

Member Committees

IFFO members can engage directly on projects and join informal discussions through committees. The Communications Network group brings together members to discuss the latest campaigns and common discussions in the press, as well as sharing insights from their companies. The technical and regulatory network (TaRN) is firstly a forum for presenting and discussing the latest issues on the regulatory and project front, but also a mechanism whereby members can raise issues or provide suggestions direct to IFFO.

Stakeholder Engagement: Events & Webinars 

In-person events:

With events finally being able to be held in person, IFFO reunited the industry, first with a Members Meeting in Miami and later with an Annual Conference in Lima. Both events provided a long-term look at global food security and the marine ingredients industry’s role as a steady supplier of highly nutritional ingredients. The Annual Conference featured a record 40 speakers from across the industry and included side visits to members fishmeal plants to give an unparalleled insight to the industry.

As part of our technical work, IFFO also held an in-person workshop ahead of the Twentieth International Symposium on Fish Nutrition and Feeding (ISFNF) in Sorrento, Italy. The workshop addressed the complex subject of understanding what protein sustainability means in the feed context, looking at the latest developments in Life cycle assessment (LCA) and concluded with a SWOT analysis of key ingredient classes by world leading experts.


Embracing the online audience, IFFO has continued with the InFocus series and the Asia market webinars. Giving a deep dive into specific topics, the series covered the marine ingredients industry in North West and West Africa, and the growth factors in fishmeal. The Asia webinar covered the revised Chinese Fishmeal Standard and updates from the Thai and Chinese market.   























Event Statistics 

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Webinars (5)

108 (average)


Representing the industry

Every year, IFFO represents the industry at events across the world, click on the icon below to view the events that the IFFO team presented at in 2022:

Click on the icon below to view the events that the IFFO team presented at in 2022

Events IFFO presented at:
Events IFFO presented at:

Events IFFO presented at:

World Ocean Summit
Seafood Expo Global
IntraFish Seafood Investor Forum: New York 2022
ISFNF Symposium
Virtual Shrimp 2022
Fish Waste for Profit
Protein transition in animal production
Victam Bangkok 
GOAL 2022
TARS 2022
WUR Fish Nutrition Workshop
3rd China International Companion Animal Food Ingredients Conference
World Aquaculture
Seafish Common Language Group webinar
China Feed Amino Acids and Feed Raw Materials Implication Symposium
Seafoodsource webinar on The State of the Aquaculture Feed Sector in 2022
UN FAO Fish Price Index workshop, Rome
Pelagic Forum, Amsterdam

Stakeholder Engagement: Outreach

IFFO grows out of a fishmeal and fish oil industry need for collaboration, information and shared problem solving. Beyond IFFO’s efforts to facilitate cooperation and address shared commercial problems within the membership, IFFO constantly liaises with academia, regulatory bodies, governments, international organisations and industry press. IFFO provides a reference point for marine ingredients with the IFFO website, while also engaging stakeholders directly on social media via LinkedIn and WeChat in China.  

Press engagement

With over 170 press articles, IFFO’s engaging across industry media and responded to all media requests in 2022. This includes a monthly column in the trade journal International Aquafeed, and contributed feature articles to AquacultureAsiaPacific and International Aquafeed. A monthly press release on market trends has continued to add to discussions on the industry with the latest data. Interviews have also been carried out with a range of international media to ensure our industry is correctly represented. More information can be found in our press releasesblogindustry news and clippings







PMJ Press






Click on the icons below to explore IFFO's projects
The Global Roundtable on Marine Ingredients
The Global Roundtable on Marine Ingredients

The Global Roundtable on Marine Ingredients

Launched in 2021, the Global Roundtable has a long-term approach aiming at increasing availability of sustainable marine ingredients and driving environmental and social improvements in fisheries. To achieve this, members contribute to maintaining a global overview of the state of the resources and industry and report to the group on meaningful projects. There are now active workstreams on West Africa and South and South East Asia. IFFO is also engaging the Roundtable on Life Cycle Assessment Approach, with GFLI, and with SINTEF’s SFI Harvest research team, focusing on pioneering lower-trophic fisheries with innovations to unlock the blue bioeconomic potential. Find out more in the Roundtable’s Annual Report.
Nutrition & Climate
Nutrition & Climate

Nutrition & Climate

Building on a recent paper on climate impacts, IFFO recently launched a infographic campaign exploring the role of marine ingredients in nutrition and global food systems. Small pelagic species have been identified as top performers in both dimensions for low climate impacts and providing high nutrition, making marine ingredients a superfood generated in a sustainable way. This low carbon footprint is due to the low impact fishing methods used and the utilization of by-products. For nutrition, small pelagics are one of natures best nutrient sources, supporting immune function, growth, brain development and much more along with a high digestibility. Learn more
By-Products calculations
By-Products calculations

By-Products calculations

IFFO has calculated that currently around 31% of the world’s marine ingredients production comes from by-product. Looking separately at fishmeal and fish oil, IFFO found that the global production of fishmeal from by-products accounts for 27%, while fish oil output from by-products represents 48% of the total fish oil production. The higher value compared to fishmeal is due mainly to the high oil yields of salmon and pangasius trimmings. Analysis also looked at the contribution provided by the different species used for direct human consumption in 2020. Species that have the most potential for growth were identified with the overall message that there remains too much waste of potential by-products. To help address this, IFFO is part of a World Economic Forum project on repurposing loss and waste. The project explores how to ensure all nutrition is efficiently and effectively captured and repurposed in economically viable and market appropriate ways, be it wild caught or farmed, with a case study based on Namibian stakeholders. Learn more
Membership of the Global Feed LCA Institute (GFLI)
Membership of the Global Feed LCA Institute (GFLI)

Membership of the Global Feed LCA Institute (GFLI)

IFFO became a member of the GFLI and submitted a proposal to initiate a Data-In-Project to add to and update all the marine ingredient data their database. The aim of the GFLI membership is to facilitate transparency and a more rapid transformation to sustainable feed supply chains. The marine ingredients industry has been contributing to transparency on sustainability metrics through the various works it has commissioned over time regarding impact, effectiveness, and value of the use of marine ingredients. We now want to go further, towards a more holistic and comprehensive measurement based on the use of lifecycle assessment (LCA) analyses. The Global Roundtable on Marine Ingredients will also contribute to GFLI data-in project, aiming to expand and update the publicly available GFLI database with new marine ingredients data. Find out more


Work on the registration of tocopherols for the International Maritime Organisation (IMO) bulk shipping (IMSBC) code is progressing. Trials were instigated with two Peruvian member companies and the final IMO-IMSBC reference point was recently assessed. Preparation for an IMO submission to amend the IMSBC code is progressing. An IFFO study has examined the potential of a range of different and novel (and natural) antioxidants, compared against ethoxyquin and using two different oxygen bomb meters. Results showed a range of antioxidant capacities among the different products and while nothing has the same capabilities as ethoxyquin, there are still many options out there.


Auditors’ opinion (Hillier Hopkins LLP – Chartered Accountants & Statutory Auditor): We have audited the financial statements of IFFO (2012) Limited (the 'Company') for the year ended 31 December 2022, which comprise the Statement of income and retained earnings, the Balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).. “In our opinion the financial statements:

  • give a true and fair view of the state of the Company's affairs as at 31 December 2022 and of its profit for
    the year then ended;
  • have been properly prepared in accordance with United Kingdom Generally Accepted Accounting
    Practice; and
  • have been prepared in accordance with the requirements of the Companies Act 2006.

Click on the icon below to view the full accounts:

IFFO 2022 Accounts
IFFO 2022 Accounts

IFFO 2022 Accounts

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The Board of Directors of IFFO is made up of Directors from Producer members nominated by either individual countries or regions. Each director serves a 2-year term and is then eligible for re-election. Meetings are held at least twice a year, along with more regular meetings for smaller Liaison groups to focus on specific areas.


President: Gonzalo de Romaña

Gonzalo is the CEO of Peruvian fishmeal and fish oil producer Tecnológica de Alimentos (TASA). He has been a member of the IFFO Board of Directors since 2018.


Click on the icon below to view the whole IFFO Board:

Board of Directors for 2022-2023 term
Board of Directors for 2022-2023 term

Board of Directors for 2022-2023 term

Board of Directors for 2022-2023 term
Latin America: Adriana Giudice, José Miguel Tirado, Gonzalo De Romaña, Fernando Ribaudo, Walter Martinez, Felipe Zaldivar and Eduardo Goycoolea
Europe: Johannes Palsson, Egil Magne Haugstad, Johann Peter Andersen and Odd Eliasen
USA & Canada: Nick Sterrett
Rest of the World: Andre du Preez and Mohammed Shawkath Showry

Learn more