June 2, 2025 — IFFO’s Members’ Meeting, held in Madrid from May 13-14, 2025, brought together a record 267 delegates from 36 countries. This year, the main highlight was the industry’s recovery following the El Niño event.
During the meeting, Enrico Bachis, market research director at IFFO, presented 2025 projections for fishmeal and fish oil: 5.6 million tons of fishmeal and 1.2-1.3 million tons of fish oil. With Peruvian production recovering and other global producers maintaining stable levels, fishmeal and fish oil production are expected to remain consistent in 2025.
However, El Niño impacted more than just production levels, it also drove structural change in the industry. “This year, we saw Cooke acquiring Copeinca, and Centinela was acquired by Exalmar. Last year, another Peruvian company was also sold. Some companies are better positioned to withstand fishing bans, so after El Niño, we are seeing consolidation in the industry,” Bachis said.