Due to the high presence of juveniles in the daily catches, the Peruvian authorities declared the end of the first fishing season of 2025 in the North-Central zone of Peru on 23 July, with an additional 24-hour window granted for the final landings. More than 80 percent of the 3-million-tonne anchovy quota was fulfilled in the North-centre, while the second fishing season has officially opened in the South. In May 2025, according to IFFO’s market intelligence reports*, the total cumulative fishmeal production decreased by approximately 2 percent compared to the same period in 2024. This decline was mainly driven by lower output in Peru and Northern European countries. All other regions reported year-on-year growth in fishmeal production over the same period. Regarding fish oil, total cumulative output for the year through May 2025 slightly decreased year on year. Similarly to fishmeal, most countries showed a positive trend compared to January to May 2024, but this was nearly ...