Peru’s Fish Meal Industry Faced Challenges Due to El Niño Impact on Fishing Seasons, Resulting in Low Supply
Fishmeal
Peru
Market & Price Trends
Gonzalo Estevez
Published Jan 9, 2024
Peru is a major producer of fish meal, primarily derived from various species. Anchovy is a key contributor, while Gigas squid, squid, hake, and shrimps also contribute to the industry. With the exception of shrimp farming, all products are sourced through wild catch. The impact of El Niño has been significant, resulting in poor volumes in 2023 and early 2024. Fishing seasons were adversely affected, with some ending prematurely due to low catches or undersized specimens.
The second part of the Anchovy season, authorized for fishing, experienced moderate volumes. However, the overall availability of products for the fishmeal industry is low, as a portion of the catch is transformed into fresh and frozen products with favorable prices. As a result, prices are expected to either remain stable or increase in the near future due to the scarcity of available products.
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