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Peru's government is evaluating a 'perfect suspension' of work contracts in fishing, agriculture and tourism because of El Niño. Fishing output fell 51.9% in June, 27.4% in July and 17.3% in August year on year.
ComexPerú estimates up to 78,000 jobs in the fishing chain could be at risk.
The fishing slump is cutting anchoveta landings for fishmeal and fish oil, which tightens global fishmeal supply and supports prices. The labor measure itself does not change output directly.
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.