The announcement of a 2.78 million-metric-ton anchovy quota for the second season in Peru's north central waters has taken the market somewhat by surprise, and raised the prospect of a much more positive outcome than last season.

While the upcoming second-season quota is on a par with the same season last year, fishing was abandoned early in January 2020 with only 36 percent of the quota harvested because of the abundance of juvenile fish.

Market watchers were betting on a quota this time around of anywhere between 2-2.4