Peru's Ministry of Production (Produce) has authorized a 1.09-million-metric-ton anchovy quota for the first season of 2023 in north central waters -- a 60 percent reduction from last year.

Despite the cut, the news comes as a relief to the industry after widespread concerns the season might not even take place.

Marine scientists undertook repeated expeditions at sea gauging stock levels amid concern about high levels of juveniles and oceanic conditions before delivering their assessment to government officials.