Peruvian anchovy second season quota expected to hit record high

Published 2024년 10월 10일

Tridge summary

The Peruvian Ministry of Production is expected to maintain the high anchovy production quota of 1.7 million tons for the second season, starting in late October. This follows a disappointing 2023, but marks a significant rebound for 2024, with the first production season quota reaching 2.475 million tons. Despite a global increase in fishmeal production leading to falling prices, demand in China, a major market, has weakened, resulting in high stocks. However, Chinese producers may increase local production, putting pressure on these already high stocks. Some Chinese buyers have delayed orders for the new Peruvian production season until the first quarter of next year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Peruvian official statement is basically consistent with the predictions of fishmeal industry insiders. The quota for the second anchovy production season is expected to remain at a high level. Industry insiders told UCN that the Ministry of Production is expected to set the quota for this year’s second production season at 1.7 million tons. Even higher, while the season may start in late October rather than early November. After a dismal 2023, the Peruvian production season will rebound significantly in 2024. The first production season quota this year is 2.475 million tons, a relatively high level in history, of which 98% of the quota is completed within the production season. The quota in the southern waters of Peru is 251,000 tons. The fishing cycle is from July to December. As of mid-September, official statistics indicate that 38,628 tons of catch have arrived at the port, accounting for 15.4% of the quota. According to data from the Marine Ingredients Agency (IFFO), ...

Source: Foodmate