The price of fishmeal has been on an upward trend in Peru since June 2025 (Figure 1). In October, a more active market was observed, with an increase of 6.9% month-on-month (m-o-m) and 35.0% year-on-year (y-o-y). This price movement may be related to the announcement that the provisional quota for the Second anchovy fishing season of 2025 in north-central Peru by the Ministry of Production (PRODUCE) was only 500,000 metric tons (mt). In 2024, the Second North-Central Season began with a quota of 2.5 million mt. Because the provisional quota for 2025 was set at 500,000 mt, this marked an 80% reduction compared to 2024.
Figure 1. Monthly FOB Peru prices for fish meal (65% protein, standard quality, steam‑dried), USD per metric ton. The blue line shows 2025 prices, the green line shows 2024 prices, and the orange dotted line denotes the 10‑year average for the same series. Source: Expana.
However, the final fishing quota for the Second Season 2025 was set at 1,630,000 mt by PRODUCE for anchovy (Engraulis ringens) and white anchovy (Anchoa nasus), based on studies by the Marine Institute of Peru (IMARPE) that confirm favorable conditions for sustainable use of the resource, with responsible management and continuous monitoring.
Despite the current positive outcome of the second season in Peru in 2025 in terms of the total allowable catch (TAC) and the current landings reported by IMARPE up to 23 November reaching 35.9% (585,687 mt) of the TAC, the price for fishmeal FOB Peru (Figure 1) reported by Expana continues to be on an upward trend. The current price is $ 1,735 / mt, accounting for an increase of 6.3% m-o-m and 15.8% y-o-y.
Image source: Getty
Written by Boris Ampuero
