Peru's production ministry authorized the start of the first 2026 anchovy season in the North-Central zone with a total allowable catch of 1.9 million metric tons. That is over 1 million tons below the 3 million-ton quota for the same season last year.
The early start was requested by industry worried about a possible coastal El Niño.
A much smaller anchovy quota cuts fishmeal and fish oil supply, which tightens global protein meal availability and supports fishmeal prices used in feed.
Not enough comparable past events yet for a historical read.
After 172 past bullish policy events, Soybean Meal moved a median +0.0% over 5 sessions (50% higher; middle half -1.5% to +1.7%), and -0.8% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.