China's fishmeal consumption and imports have reached a decade-high, with consumption increasing by 11.5% to 2.22 million tons in 2023, and imports increasing by 19% to 1.96 million tons. Peru, Vietnam, and Russia were the main suppliers, accounting for 44%, 10.5%, and 8% of the market share, respectively. The significant increase in imports has led to an 110% rise in fishmeal stocks in Chinese ports, which now stand at 370,000 tons. The high stocks and decreasing demand due to preference for cheaper alternatives are predicted to cause a price correction for fishmeal in the first half of 2025.