The global production of fishmeal and fish oil remains relatively stable with an average of 5,1 million tonnes of fishmeal and around 1,2 million tonnes of fish oil the past 10 years. Out of this, the EU produces from 370.000 tonnes to above 520.000 tonnes of fishmeal and from 90.000 tonnes to 140.000 tonnes of fish oil. This constitutes each year from 8-12% of the global production.
The high-quality production is based on landings of small, oily, short-lived species such as blue whiting, capelin, sandeel, Norway pout and sprat as well as trimmings from the fish processing sector. Denmark is by far the largest producer in the EU, accounting for 35% to 50% of the total EU production. The fisheries destined to produce fishmeal and fish oil in the EU are limited by quotas and the demand for human consumption. The raw material from fisheries varies dependent on quotas.
The price level of European fishmeal and fish oil follows global prices to a large degree, which depend highly on the production in South America (Peru, Chile). Over the past 12 years, European (Oil world price) fish oil prices on average increased by 117% and fishmeal prices on average increased by 3% (adjusted for inflation).
EU consumption of fishmeal decreased by around 27% from 2010 to 2024 to around 460.000 tonnes.
The imports of fishmeal in the EU decreased by 41% from 2014 to 2024. The difference between import and export varies from year to year depending on domestic production, but the EU is still a net importer of fishmeal. Imports from Peru decreased by nearly 93% in the period and reached no more than 9.500 tonnes in 2024; the import share of imports from Peru on total EU imports decreased from 41% to 5%. Morocco, Norway and South Africa are top three fishmeal suppliers in 2024. EU import of fish oil decreased by 28% to 144.000 tonnes from 2014 to 2024, and exports decreased by 6% to 137.000 tonnes.
EU exports go to several countries worldwide with Norway and the UK as top destination markets. EU exports of fishmeal decreased by 33% in the 2014-2024 period and fish oil exports decreased by 6% during the same period.
In 2024, around 77% of the exports of fish oil from the EU was exported to Norway and 15% to UK.