January 20, 2024


Peru concludes second anchovy season, 25% uncaught


The Peruvian Ministry of Production (PRODUCE) has closed the country's second anchovy season, leaving over 25% of the fishery's quota uncaught, SeafoodSource reported.


This follows the cancellation of the first season in 2023, incurring an estimated loss of US$1.4 billion in revenue for the fishery. The recently concluded season, which captured approximately 75% of the 1.682-million-metric-tonne quota, fell short of expectations.


Peru's industrial anchovy fishing fleet initiated the second season after the setback of the cancelled first season, impacting the global fishmeal and fish oil production. IFFO – The Marine Ingredients Organisation noted a 16% decline in global fishmeal production for the first 11 months of 2023, primarily attributed to Peru's 41% drop resulting from the closure of its first anchovy season.


Fish oil production also experienced a downturn during the same period, with a nearly 20% decline worldwide, largely influenced by the closure of Peru's initial anchovy season in 2023.


The commencement of Peru's second season in October 2023 contributed to a resurgence in overall fishmeal totals for the first 11 months. But the global impact of reduced fishmeal production is evident, especially in China, where arrivals have slowed down in the second week of 2024.


According to IFFO, fishmeal offtakes in China's main ports in the second week of 2024 decreased to almost 15,000 metric tonnes, down from the previous week. Although the total stock of imported fishmeal has slightly decreased, it remains above the average reported value for week 2 between 2019 and 2023.


While larger catches were reported in Chile and the North Atlantic region, only Chile saw a higher year-over-year production of fish oil, thanks to healthier catches and higher-than-average oil yields in the southern part of the country.


-       SeafoodSource

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