Overview

“IFFO’s goal in 2021 was to continue delivering our high level of service to members while representing the industry in the global online space. We achieved this and worked hard to further improve and expand our systems and services. These include a new tailored member database, outreach campaigns on climate change, launching a global roundtable, a new webinar series, new market reports, and much more. Despite the global challenges, our membership continues to diversify and grow, and IFFO remains at the forefront of discussions on the vital  role of marine ingredients. This report gives a concise overview of our work and areas of focus going forward.”

Petter Martin Johannessen, IFFO Director General

Contents:

Supporting our members

Even during the challenges that have faced our industry through the pandemic, IFFO’ s membership has grown. IFFO now has 234 members from 40 countries, a 3% increase from 2020, with 8 new Non-Producers and 6 more Producers. To further encourage responsible practices, new Producer members now have to demonstrate that their raw materials come from regulated fisheries with the correct licenses; and that their factories are certified. The members survey showed that 96% of members rate IFFO’s services as either excellent or good. 

Beyond the webinars and communications support, we support our members through a wide range of projects and services, some of which are highlighted in the following: 

Click on the icons below to explore more:

Stakeholder Engagement: Events & Webinars 

IFFO hosted 5 webinars in 2021, ranging from 3-day events giving a 360⁰ view of the industry, to country specific standalone discussions. Our members webinars, held twice a year, had an average of 253 attendees from 31 countries with 20 presentations. The panel discussions in these webinars have helped shape and drive discussions on how markets have adapted since Covid, and the future of marine ingredients within blue food. The country webinars covered the China and Vietnamese markets, looking at local and international drivers.  

Event Statistics

Click on the icon below to find out more about the InFocus webinar series

Representing the industry

Every year, IFFO represents the industry at events across the world and although we moved to a virtual environment, the number of events we participated in remained high. 

Click on the icon below to view the events that the IFFO team presented at in 2021

Stakeholder Engagement: Outreach

IFFO grows out of a fishmeal and fish oil industry need for collaboration, information and shared problem solving. Beyond IFFO’s efforts to facilitate cooperation and address shared commercial problems within the membership, IFFO constantly liaises with academia, regulatory bodies, governments, international organisations and industry press.

Press engagement

Finance

Auditors’ opinion (Hillier Hopkins LLP – Chartered Accountants & Statutory Auditor): We have audited the financial statements of IFFO (2012) Limited (the 'Company') for the year ended 31 December 2021, which comprise the Statement of income and retained earnings, the Balance sheet and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). “In our opinion the financial statements:

• give a true and fair view of the state of the Company's affairs as at 31 December 2021 and of its profit for the year then ended;
• have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• have been prepared in accordance with the requirements of the Companies Act 2006.

Click on the icon below to view the full accounts:

Governance

The Board of Directors of IFFO is made up of Directors from Producer members nominated by either individual countries or regions. Each director serves a 2-year term and is then eligible for re-election.

President: Gonzalo de Romaña

Gonzalo is the CEO of Peruvian fishmeal and fish oil producer Tecnológica de Alimentos (TASA). He has been a member of the IFFO Board of Directors since 2018.

Click on the icon below to view the whole IFFO Board: