The price of fish meal has increased sharply since the beginning of June and could be set to rise further as the world prepares for a possible El Niño.
In the US fish meal is made from two main sources: the whole remains of a fish called the Menhaden, a small oily fish used exclusively for fish meal and oil production, and trimmings from Alaska pollock. Total US fish meal production is approximately 340,000 tons per year, making it the fifth largest producer globally. Approximately 250,000 tons are used domestically and the rest exported, making the US the fourth largest global exporter. The fish meal industry is truly global and it is thought that the average distance fish meal is transported between production and end use is 5,000 miles. Consequently, issues affecting one major producer can also affect prices of other producers.
The largest global producer of fish meal is Peru, with 25 percent of global production and the majority exported, making it the largest global exporter. Most of Peruvian fish meal comes from a species known as the anchoveta. The Peruvian anchoveta fishery is highly susceptible to El Niño conditions, when an upwelling of cold nutrient rich water off the coast of South America known as the Humboldt Current is disrupted. This leads to a reduction in the amount of plankton available as food for the anchoveta, which leads to a smaller number of fish and lower catches.
Since April the coast of Peru has seen warmer sea temperatures, leading many to forecast the onset of El Niño conditions before the end of the year. These warmer temperatures also led to the Peruvian authorities opening the first fishing season of the year early to try and increase catch levels. Even so the catch levels are reported to be low. Lower volumes of anchoveta in Peru will lead to a fall in fish meal production and higher prices. As feed is the largest cost for the production of many farmed fish, high prices of fish meal can lead to higher prices of farmed fish and prawns.
However, in recent weeks the recorded sea temperatures are slightly cooler softening the severity of a potential El Niño and possibly reducing the effect on the global food industry.
(seafood.vasep.com.vn) The year 2025 marked a pivotal milestone for Vietnam’s seafood industry in its restructuring process toward sustainability, transparency, and higher value creation, amid continued uncertainties in the global economic and trade environment. Prolonged inflation in major economies, the rising trend of trade protectionism, and increasingly stringent requirements related to environmental standards, traceability, and social responsibility have posed significant challenges to seafood production and exports. Nevertheless, overcoming these pressures, Vietnam’s seafood sector has gradually demonstrated its adaptability, maintained growth momentum, and laid an important foundation for the next stage of development.
(seafood.vasep.com.vn) Amid the increasingly evident impacts of drought and saltwater intrusion, the shrimp-rice production model in Ca Mau province continues to prove itself as a viable direction, contributing to higher farmer incomes, improved soil conditions and the promotion of ecological and sustainable agricultural development.
(seafood.vasep.com.vn) The management of fishing vessels, monitoring of fishing activities, and handling of violations in the fisheries sector in Lam Dong province have continued to be implemented in a synchronized and stringent manner, contributing to raising awareness of legal compliance among fishermen and aiming to end illegal, unreported and unregulated (IUU) fishing.
(seafood.vasep.com.vn) Can Tho’s fishery industry sustained steady growth in 2025 with total aquatic and marine output reaching nearly 783,000 tons, fulfilling 100% of the annual target. Aquaculture, capture fisheries and fishing fleet management were further strengthened, aiming for sustainable development in the coming years.
(seafood.vasep.com.vn) In 2025, Vietnam’s pangasius export turnover reached nearly USD 2.2 billion, up 8% year-on-year. This result indicates that pangasius exports maintained their growth momentum despite significant volatility in the global market environment. In December 2025, pangasius export value reached USD 200 million, up 10% compared to December 2024. This solid performance in the final month of the year reflects increased import demand for consumption and inventory replenishment in key markets.
(seafood.vasep.com.vn) In 2025, Vietnam’s tuna exports to Spain experienced significant fluctuations. According to Vietnam Customs, during the first 11 months of 2025, export turnover for the first 11 months of the year edged up by 0.3% year-on-year, reaching nearly $15 million.
(seafood.vasep.com.vn) Deputy Prime Minister Bui Thanh Son has signed Decision No. 16/QD-TTg, dated January 5, 2026, approving the implementation plan for the Vietnam-Israel Free Trade Agreement (VIFTA). Under the plan, in the coming period, ministries, ministerial-level agencies, government-affiliated entities and People’s Committees of provinces and centrally-run cities must institutionalize and execute tasks focused on the dissemination of information regarding VIFTA and the Israeli market; legislative and institutional development, as well as enhancing competitiveness and human resource growth...
(seafood.vasep.com.vn) Beyond achieving double-digit growth, Vietnam’s fish cake and surimi exports are showing a notable year-end "inflection point": the EU his accelerating with nearly twofold growth, China & Hong Kong are rising sharply, while the largest market, South Korea, signaled a slowdown in November. According to Vietnam Customs data, export turnover of fish cake and surimi reached $327 million in the first 11 months of 2025, up 22% year-on-year; November 2025 alone accounted for $35 million, marking a 5% increase. This serves as a critical foundation for exporters to reassess market structures and competitive intensity while finalizing order strategies for 2026.
(seafood.vasep.com.vn) Ca Mau, widely regarded as the nation’s “shrimp capital”, continued its strong performance in 2025 as shrimp output reached nearly 600,000 tons, maintaining its position as Vietnam’s leading shrimp-producing locality.
(seafood.vasep.com.vn) On December 29, 2025, at the 2025 Pangasius Industry Review Conference held in Can Tho City, the Vietnam Pangasius Association announced that fingerling prices have surged to record levels due to acute supply shortages.
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