Peru: After two years in the red, the fishing sector would have a rebound of 30% in 2024

Frozen Anchovy

Seafood

Peru

Market & Price Trends

Published Mar 12, 2024

Tridge summary

Peru's fishing sector is projected to recover by approximately 30% in 2024, as per Elmer Cuba, general manager of Macroconsult. Despite this, the sector will still be below pre-pandemic levels due to struggles since 2022, largely attributed to climatological factors such as the El Niño phenomenon. The suspension of the first anchovy fishing season led to a halt in exports of $1.4 billion worth of fish oil and fishmeal.

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Original content

Is the fishing sector afloat? Elmer Cuba, general manager of Macroconsult, said that fishing in Peru could close in the blue in 2024, as it is estimated “a rebound of around 30%.” “It is not that it is growing because the sector has been bad since 2022. Now rebounding 30% compared to last year, it is still well below the pandemic. “We are talking about the fishing GDP as a whole, direct and indirect,” he said during the presentation of the study “Economic impact of anchovy fisheries management in the southern zone.” Let us remember that, according to the latest GDP report from the INEI, at the end of 2023, the fishing sector showed the worst performance in the last 30 years, as it fell 19.75% due to climatological factors such as the El Niño phenomenon that impacted fishing of anchovy, star product of national fishing. The scenario was observed in 2022 when it reflected a drop of 13.74%. “It happens that we are coming from a fall in 2022, we have a fairly small comparison base, it ...

Source: Apnoticias