Peru's first 2025 North-Central fishing season ended with more than 80% of the three-million-tonne anchovy quota landed, according to IFFO. Cumulative fishmeal production through May was down about 2% year on year, while fish oil was slightly lower.
China's marine ingredient output also remains low because of coastal fishing bans.
Lower Peruvian and European output, plus weak Chinese production, tightens the global fishmeal and fish oil balance. That supports prices for fishmeal-based feed ingredients.
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.