The ability of other producing nations to compensate for a gap in supply will influence any increase in fishmeal market prices if the all-important first anchovy season in Peru's north-central waters is cancelled, Enrico Bachis, market research director at the Marine Ingredients Organization (IFFO), told IntraFish.

Peru's government suggested the first anchovy season in the South American nation's north-central fishing zone may not take place this year because of a high volume of juvenile fish.

Peru accounts for around 20 percent of the global fishmeal supply, although fish oil yields vary widely from year to year.