In the first 23 days of 2024, North-Central Peru's anchovy fishing season saw a significant catch, accounting for nearly half of the 2.475 million tonnes quota. This event has severe implications for the global fishmeal and fish oil markets, as Peru is a major contributor, accounting for approximately 20% of worldwide production. The early start and lower quotas of the second fishing season in 2023 led to a 27% decrease in global fishmeal production in the first quarter of 2024, compared to the same period in 2023. Furthermore, the Peruvian fishing season's timing caused a 30% drop in cumulative global fish oil production year-on-year by March 2024. However, positive trends in fishmeal production are emerging in Chile, the United States, and Africa, partially offsetting these declines.