London, 14 September 2026 

Over the first seven months of the year, cumulative fishmeal output was running 49% behind the same period in 2025, while fish oil output was down 30%. Peru and Chile remained the largest contributors to the shortfall, with softer catches in the African countries and Northern Europe compounding the global decline. 
“The reduced fishmeal and fish oil supply from South America might be offset by some of the regions in Asia that have their peak fishing season in the last quarter of the year. China, India and Oman are some of them”, added Enrico Bachis, Market research Director at IFFO. 

China’s fishmeal production has resumed while demand for aquafeed is at its seasonal peak  

China’s domestic production of fishmeal and fish oil resumed in August. Although the initial estimates indicate that domestic output through July 2026 was better than the levels seen a year ago, the availability of fish raw material since August remains to be observed.  

In China, August represents the peak of summer and a critical growth stage for aquaculture species. However, it is also a challenging period marked by heightened management difficulties and elevated production risks. Recent extreme weather events, including typhoons, have further disrupted coastal aquaculture operations. Although overall aquaculture feed demand has entered its seasonal peak, demand varies considerably across species.

For specialty species such as largemouth bass, snakehead, and yellow catfish, farm-gate prices remain weak. Market data shows that stocking volumes for these species declined year on year during the first half of 2026, suggesting that feed demand and fishmeal consumption may weaken during the grow-out stage. In contrast, feed and fishmeal demand for high-value species with stronger profit margins remains stable or is showing signs of improvement. Nevertheless, persistently high farming costs with less supply have contributed to an overall year-on-year decline in fishmeal consumption. 

In China’s pig sector, fishmeal consumption also remains subdued, primarily due to weaker demand for piglet and commercial piglet feed. Given the current market conditions, fishmeal demand from the pig sector is unlikely to see a meaningful recovery during the remainder of 2026.