Fishmeal Prices Explained

Global fishmeal prices have been on a moderate upward trend. In July 2025, the Fish Meal Price (Any Origin) averaged USD 1,722 per metric ton, marking a 2% increase month-on-month, but still slightly below 2024 levels. 

In June 2025, the global benchmark price was about USD 1,446 per ton, consistent with World Bank and IMF records. Peruvian fishmeal, a key regional benchmark, also stood at USD 1,446 per ton in June 2025. This was an increase of 0.8% from May and 3.3% higher than a year earlier.

This price trajectory reflects recovering supply conditions (notably in Peru and Chile) coupled with strong demand from aquaculture and livestock producers, especially in China, which continues to support the market.

Why are Fishmeal Prices Fluctuating?

1. Production Fluctuations

Global fishmeal and fish oil production rose by about 29% year‑on‑year in March 2025, mainly propelled by increased output in Peru and Chile, along with strong contributions from the U.S., Europe, and Africa.

2. Demand from Aquaculture and Animal Feed

Fishmeal is a key high-protein feed ingredient for farmed fish, and to a lesser extent, pigs and poultry. Rising aquaculture production in Asia continues to boost demand.

3. Economic and Policy Factors

China’s fishing moratorium from May through late summer increases its reliance on fishmeal imports. This policy supports both demand and prices.

4. Environmental Sustainability & Alternative Feed Pressures

Concerns over overfishing and environmental impact are encouraging the development of alternatives such as insect meal, algae, and plant proteins. These alternatives create competitive pressure on traditional fishmeal markets.

Which Variables Impact the Price of Fishmeal?

• Production Fluctuations
  
• Demand from Aquaculture & Livestock Feed
  
• Trade Policies & Fishing Regulations
• Sustainability Pressures & Alternative Ingredients

Where Does Fishmeal Come From?

Fishmeal is made by cooking, pressing, drying, and grinding whole fish or fish by-products. About 75% of global production uses flame-drying with direct rotary dryers because of its efficiency. Fishmeal typically contains 60% to 72% crude protein.

The main fish species used include anchovy, herring, sardines, capelin, menhaden, and blue whiting. Top producers are Peru and Chile, followed by China, several European nations, the United States, South Africa, and Norway. Fishmeal was once used mainly as fertilizer.

Today, about 56% is used in aquaculture feed, 20% in pig feed, 12% in poultry feed, and the rest for other purposes.

What are the Uses of Fishmeal?

1. Aquaculture Feed – A primary ingredient in feed for farmed fish, owing to its balanced protein and essential nutrients.

2. Livestock Feed (Pigs & Poultry) – Due to its rich amino acid profile, fishmeal is a staple in premium animal feeds.

3. Pet Food & Specialty Feed – Used in high-protein pet food formulations and specialty feeds.

4. Nutraceuticals & Omega‑3 Supplements – Fishmeal contributes to the omega-3 fatty acid supply, feeding into supplement production.

5. Fertilizer & Soil Amendment (Historical/Occasional Use) – Though less common now, it was historically used to enrich soils.

What is the Future Price of Fishmeal?

Fishmeal prices remain strong at USD 1,700–1,800 per ton. This is supported by recovering production, growing aquaculture demand, and limited substitutes.

While precise commodity-price forecasts are scarce, market value projections can inform expectations:

• The global fishmeal market may grow from USD 9.38 billion in 2025 to USD 11.89 billion by 2029  with a CAGR of about 6.1%.

• When combined with fish oil, the total market could rise from USD 11.0 billion in 2025 to USD 14.44 billion by 2029,  a CAGR of about 7.0%.

Assuming supply keeps pace but demand, particularly from aquaculture and nutraceutical stays strong, average prices may hold between USD 1,700 and USD 1,900 per ton from 2027 to 2030.

Major disruptions, such as El Niño events or regulatory changes, could shift this range.