The cancellation of the all-important first anchovy season in Peru’s north-central fishing zone this week came as little surprise to the Marine Ingredients Organization (IFFO), which called the decision "very wise."

The question now is what will happen in the latter half of the year with the second season, and in other fishmeal and fish oil producing regions around the world.

On Thursday, after analyzing recommendations from the Peruvian Sea Institute (Imarpe), Peru's Ministry of Production (Produce) canceled the first fishing season for anchovy in the north-central zone.