Fish Feed, Revisited: How Fish Oil Supply Is Evolving

What if the most “predictable” part of seafood right now isn’t salmon prices or tariffs, but the quiet choke point in fish feed? In this episode, we unpack why the Peruvian anchovy season still sets the short-term rhythm for fish oil markets, even as the 2026 season already kicks off, and why that dependency keeps resurfacing as a structural risk for aquaculture. You’ll get a clear breakdown of what actually moves feed prices (and why fish oil behaves differently than every other major input), plus a grounded walk-through of the CFI 2025 State of the Algal Oil Industry findings, what it really costs to produce EPA+DHA-rich algal oil, why heterotrophic fermentation is pulling ahead, and why scaling the solution is the hard part, not the science.Centre for Feed Innovation Algae Oil ReportFor more aquaculture insights head to our Fish n’ Bits blog.