The failure of Peru's anchovy fleet to land its full quota in north-central waters has come as little surprise to market observers, but it takes place amid structural changes in the key Chinese fishmeal market, and these changes will likely have a bearing on future fishmeal demand and prices.

After a lengthy delay, Peru's Ministry of Production (Produce) authorized a 2.283 million metric ton anchovy quota for the second season of 2022 in north-central waters for the season beginning on Nov 28.