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Peru's North-Center anchoveta fleet has landed almost all of its 1.63 million-ton quota, closing the second season. IFFO data show global fishmeal output up about 2% and fish oil up about 7% through November 2025, with Peru the exception on oil.
IFFO expects Peru's 2025 fishmeal and oil output to be slightly lower than in 2024.
Global fishmeal supply is roughly steady to slightly higher, with Peru's reduced output offsetting gains elsewhere, so the net price effect is limited.
Not enough comparable past events yet for a historical read.
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.