Commodity news

Peru approves first 2024 anchovy season quota

The quota for the Nort-Center region has been fixed at 2.475 million tons, more than double last year’s quota.

Credits: Produce
April 11, 2024

The Peruvian authorities announced that the first anchovy fishing in the North-Center areas for 2024 will start on April 16, 2024. The quota for this region has been fixed at 2.475 million tons, more than double last year’s quota (1.09 million), and subsequently canceled.

Peru’s quota setting is of critical importance to the sector, considering that the country accounts for 20% of global fishmeal in an average year. “The industry is positive about this quota, which signals a rebound after last year’s quotas at respectively 1.09 million mt (first season canceled due to the repercussions of the El Niño event) and 1.68 million mt (second season),” said Enrico Bachis, IFFO’s Market Research director.

IFFO reports

Based on IFFO’s membership, which accounts for 55% of global marine ingredients production, IFFO reports that the raw material used by a selection of countries* showed an increase of approximately 20% in February 2024 compared with the same month in 2023, driven by the increased available raw material in Chile and North European countries.

In the first two months of the year 2024, the cumulative fishmeal production dropped by approximately 26% compared to the same period in 2023.

“Such a decline was primarily influenced by a significant decrease of around 80% in Peru, where January 2023 still saw significant landings due to the second fishing season of the year 2022. On the contrary, the early commencement of the second fishing season in Peru's North-Central region in 2023 left less catch available for the start of 2024. Typically starting in November, the season commenced in October 2023 and concluded on January 13, 2024,” Bachis said.

Among the countries upon which the IFFO report is based, Chile, Denmark and Norway have shown a positive trend in fishmeal production compared to 2023.

As for fish oil, cumulative output through February 2024 was 13% down year over year. Chile is the only country that has registered a positive trend compared to January-February 2023.

* Peru, Chile, Denmark/Norway, Iceland/North Atlantic, USA, African countries, Spain.