
Scotiabank projects Peru's 2025 anchovy catch near 5 million metric tons, up 9% from 4.6 million in 2024 and the highest level in four years. The bank credits colder-than-usual sea temperatures and a large north-central quota of 3 million tons.
Southern first-season catches reached 75.6% of quota, and a lower southern second-season catch is expected.
A larger Peruvian anchovy catch expands fishmeal and fish oil supply, which is bearish for fishmeal prices and supportive of cheaper protein for feed buyers.
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.