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The FAO reports that Peru has halted most of its anchoveta fishing after poor weather and high juvenile catches cut output. The north-central quota was 84 percent filled, and oil yields fell to 2 percent against a normal 3 percent.
Higher North Atlantic quotas and Icelandic catches are partly offsetting the shortfall, while Chinese fishmeal demand has weakened.
Peru's shortfall cut global fishmeal supply by an estimated 6.7 percent and fish oil by 12.7 percent, which supports prices. Softer Chinese demand and large stocks in storage limit the upside.
fao.orgMar 16, 2023Not 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.
