Second season anchovy quota set in Peru

The Peruvian Ministry of Production set a cap quota of 2.51 million tons, the third highest of the second anchovy season in the last decade.
Anchovy from Peru.

The second anchovy season in the North-Central zone of Peru will start on November 1, 2024.

Photo: Produce.

Updated on

The second anchovy season in the North-Central zone of Peru already has a quota and a starting date. After a rigorous scientific evaluation by the Peruvian Institute of the Sea (Imarpe), the Peruvian Ministry of Production (Produce) has set a quota of 2.51 million tons for a season that will officially start on November 1, 2024.

The fishing season will be extended until the Maximum Total Allowable Catch Limit of the authorized North-Central Zone is reached, or otherwise, when Imarpe recommends it due to environmental or biological circumstances.

The head of Produce, Sergio González Guerrero, noted that referring to the estimated quotas in the second season, this quota of 2.51 million tons is the third highest in the last decade.

"In economic terms, it will represent more than 1.3 billion dollars in foreign exchange, having a commodity such as anchovy for indirect human consumption, which boosts one of the most productive and efficient industries in the country, such as fishmeal and fish oil," said the Minister.

Peru saw a notable rise in fishmeal production during the first half of 2024. Between January and July 2024, cumulative fishmeal production increased by nearly 36% compared to the same period in 2023, according to statistics from the International Fishmeal and Fish Oil Organisation (IFFO). The upward trend extends to fish oil production, which experienced a global increase of about 10% year-on-year as of July 2024.

More than USD 1.3 billion in foreign exchange and more than 49,000 jobs

If Minister González spoke of "more than 1.3 billion dollars in foreign exchange," Produce's announcement of the new opening of the fishery has specifically put the amount at a total of USD 1,349 million (EUR 1,250 million) in foreign exchange. That will be the economic impact that this second anchovy season is expected to have in the country.

The Peruvian Ministry of Production explained that this figure will have an impact on 0.8% of the GDP in 2024, and 8% of national exports. It will also ensure the employment of more than 49 thousand workers associated with the anchovy production chain.

"With this result, we will contribute to achieving the expected growth forecast for the country by the end of 2024. Fishing plays a transcendental role in boosting the 3.1% growth for the national economy, and throughout this year it has been a protagonist," the head of Produce stated.

In July, Peru closed the first anchovy season with more than 98% of the quota caught but, according to the Minister, fishing - not only of anchovy - has been key to the country's economy thanks to its good catch results. In the cumulative period from January to July 2024, with more than 3.4 million tons unloaded, landings of the Peruvian fishing fleet increased by 95.7% compared to the same period last year.

As a result, the fishing GDP of the South American country grew by 14.9% in July 2024 compared to July 2023. Previously, it had recorded an increase of 158.40% in April, then rocketed by 329.2% in May, and, although lower, also reached a 55.2% growth in June.

In fact, according to the Environmental Performance Index 2024 (EPI 2024) by the Yale University and Columbia University science centers with the support of the McCall MacBain Foundation, Peru is one of the best fishing performance countries in the world, and the best fishing performance country in South America.

In this second anchovy season, around 700 fishing vessels with fishing permits - 300 steel and 400 wooden vessels - are expected to participate. According to Produce, their landings in different coastal localities will also contribute to the improvement of the regional economies.

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