Peru ended its first 2025 north-central anchovy season on July 23 because of a high share of juvenile fish in catches, with over 80% of the 3-million-tonne quota landed. The second season has opened in the south.
IFFO data show cumulative fishmeal output through May 2025 down about 2% year on year, mainly from Peru and Northern Europe.
A shorter Peruvian season cuts fishmeal and fish oil supply, which supports prices for fishmeal and the feed proteins it competes with. IFFO's 2025 estimate of 5.6 million tonnes of fishmeal keeps the global tightness in view.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.