Spanish Anchovy Prices Surge 23% YoY in Jul-24 Amidst Quota Pressure

The Spanish anchovy (Bocarte) price averaged USD 1.21 per kilogram (kg) in Jul-24, up about 23% year-on-year (YoY) from USD 0.98 in Jul-23. Auctions in Galicia reached 1,560 metric tons (mt) in Jul-24, more than triple the 500 mt in Jun-24. From Jan-24 to Jul-24, 2,100 mt have been sold, more than double the 1,000 mt sold in 2023, but still below the 8,200 mt in 2022 and 3,100 mt in 2021. The total quota of 10,200 mt is nearly exhausted, with fewer than 300 mt remaining in Jul-24, putting significant pressure on the Galician fleet.