Peru is one of the largest producers of fish flour in the world, a product that is used as food for other animals. Prices this year are higher compared to 2022, as a result of the El Niño phenomenon, which by raising water temperatures makes there less availability of anchovy, the main input for this product.
In 2022, the metric ton sold for US$1,640, according to the Central Reserve Bank (BCRP); for April of this year, it reaches US$1,755.34, according to Indexmundi, with which an increase of 7% is observed. In addition, the trend is upward, since the Ministry of Production (Produce) indicated that there would not be the first season of industrial anchovy fishing. The highest peak had been reached in 2015, when it cost US$1,658.
The warming of the waters due to El Niño is causing schools of anchovies to move to the depths of the sea, up to more than 100 meters, or to stick to the coast, making it difficult to catch them, since industrial vessels They can only fish from mile 5 to the bottom and their nets reach 40 meters deep.
The BCRP forecasts that the economic production of the fishmeal industry will fall 50% this yeara new blow for the country that is still suffering from the effects of anti-government protests, floods and the worst dengue outbreak on record.
The FAO told Bloomberg Line that El Niño will severely restrict supplies from Peru and Chile. A higher-than-usual proportion of juvenile fish in the 2022 catches also reduced oil production, leading to severe fish oil shortages, the FAO added.
With information from Bloomberg Line.
Source: Larepublica
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