
Peru did not authorize a second anchovy fishing season in October 2026, following an early close to the first season after only 25% of its quota was caught. The article attributes the poor catch to unusually warm Pacific waters that reduced phytoplankton and pushed anchovies into deeper waters, tightening a key source of fish oil.
Reduced anchovy catches constrain raw material for fish oil and related fishery products, tightening supply and potentially supporting prices. The feed-price effect is indirect because fish oil is not among the listed commodities.
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