3 Nov 2020
- The first anchovy fishing season (May-August 2020) in the north-central area in Peru ended in full achievement of the total authorized quota (2.41 million tonnes).
- Although the cumulative production of fishmeal and fish oil through this year so far remained slightly down compared with the previous year, this is notable considering the global economic downturn caused by COVID-19.
- It is expected that the negative impact of COVID-19 on the trade of fishmeal and fish oil will not sustain for a variety of reasons. First, the Peruvian Government and other relevant authorities have had sufficient time to deal with the various challenges the pandemic has caused and secondly, from the demaind side, China, has recovered from the pandemic and will continue to absorb 80 percent of Peruvian produced fishmeal for their recovering aquaculture and terrestrial farming activities.
- The prices of fishmeal and fish oil have hovered at a high level for several months already. In the short term, the prices are expected to moderate a bit with the ample supply from Peru. However, there is uncertainty as to how prices will develop in the longer term.