Bullish sentiment is creeping into the outlook for the global fishmeal market after Peruvian authorities announced a 2.5 million metric-ton quota for the first 2021 season in north central waters, market observers told IntraFish.

The quota, although 4 percent higher than for the opening season last year, came out below the expectations of harvesting companies and fishmeal processors.

Raul Briceno, CFO at Peruvian harvesting and processing firm Exalmar, said general consensus in the industry was that regulators would set the quota at 3 million metric tons.