Menhaden Fish Meal and Fish Oil

Dominant US menhaden fishery operator; ~90% of US menhaden harvest; primary US source of fish meal and omega-3 fish oil for pet food.

TASA (Tecnológica de Alimentos SA; Lima Peru; privately held; owned by Breca Group, a major Peruvian conglomerate) is Peru's largest fishmeal and fish oil producer — accounting for approximately 25-30% of Peru's total fishmeal output and ~10-12% of global fishmeal supply. TASA operates a fleet of ~100+ industrial fishing vessels (cerqueros) targeting anchoveta (Engraulis ringens) in the Humboldt Current, and runs 11 reduction plants along Peru's Pacific coast from Paita in the north to Ilo in the south. TASA is vertically integrated: vessel fleet → coastal reduction plants → fishmeal/fish oil export. TASA's fishmeal is certified by MarinTrust (formerly IFFO RS) for responsible sourcing and supplies global aquaculture feed compounders (Cargill, Skretting, BioMar) as well as premium pet food manufacturers. The company also operates salmon farming in Chile through its sister company.

Austevoll Seafood ASA (Storebø, Hordaland Norway; OSE: AUSS; ~NOK 30B revenue) is a vertically integrated Norwegian seafood company and one of the world's largest fishmeal and fish oil producers. Austevoll owns Welcon (Pelagic AS, Lima Peru) — a major Peruvian fishmeal producer — and Norwegian pelagic fish (herring, mackerel, capelin) reduction operations. Austevoll also owns approximately 52% of Lerøy Seafood Group (OSE: LSG), Norway's second-largest salmon farmer — creating a vertically integrated chain from fishmeal production to salmon farming to salmon processing. Austevoll's Peru operations (Welcon/Pelagic) hold anchovy quota and operate reduction plants; its Norway operations catch North Sea herring and capelin processed to fishmeal and fish oil. Austevoll is uniquely positioned as both a fishmeal producer and a fishmeal consumer (via its salmon farming stake in Lerøy).

Copeinca AS (originally a Norwegian-listed Peruvian fishmeal company) was acquired by China National Fisheries Corporation (CNFC) — a subsidiary of China National Agricultural Development Group (CNADC, a Chinese state-owned enterprise) — in 2013 for approximately $1.65 billion. This acquisition was the largest single Chinese investment in Peru's fishing industry and gave China's state sector direct control over a major Peruvian fishmeal producer. Copeinca holds significant Peruvian anchovy quota allocation (second-largest individual quota holder after TASA) and operates reduction plants along Peru's Pacific coast. The CNFC acquisition raised food security concerns: Chinese state ownership of Peruvian fishmeal directly supports Chinese aquaculture (salmon, shrimp) and animal feed industries, connecting Peruvian ocean biomass to Chinese food supply chains.

Omega Protein Corporation (Reedville, Virginia; acquired by Cooke Inc., a Canadian private aquaculture company, in 2017 for ~$500M; formerly NYSE: OME) is the largest US fishmeal and fish oil producer, fishing Atlantic menhaden (Brevoortia tyrannus) — the largest US commercial fish harvest by volume — in the Gulf of Mexico and along the US Atlantic coast. Omega Protein's Reedville, Virginia reduction plant is the world's largest menhaden reduction facility. Menhaden oil is sold as: (1) aquaculture feed omega-3 oil, (2) omega-3 dietary supplements for human health, and (3) pet food. Omega Protein's fleet of 50+ vessels and spotter aircraft (for menhaden school location) is a vertically integrated menhaden operation. After the Cooke Inc. acquisition, Omega Protein's operations were integrated into Cooke's global salmon farming and seafood supply chain, providing in-house omega-3 supply for Cooke's salmon feeds.

FF Skagen A/S (Skagen, North Jutland Denmark; cooperative/private) is one of Europe's largest fishmeal and fish oil producers, processing North Sea herring, capelin, blue whiting, and sand eel at its Skagen fishmeal plant — the largest reduction facility in Denmark. FF Skagen is owned by Danish fishermen's cooperatives and processes pelagic catches from Danish and other Nordic vessels. North Sea sand eel (Ammodytes spp.) is a key input — sand eel are small forage fish used almost entirely for fishmeal/oil reduction rather than direct human consumption. FF Skagen's fishmeal supplies European aquaculture (Norwegian salmon, Mediterranean sea bass/sea bream) and pet food manufacturers. Sand eel quotas in the North Sea are set by the EU Common Fisheries Policy and have been subject to environmental pressure due to sand eel's importance as prey for seabirds (puffins, kittiwakes) and North Sea cod.