Fishmeal and fish oil prices could remain elevated for at least another "good" fishing season, depending on the outcome of mini bans implemented during the second season in Peru's key north-central fishing zone.

Given the first season of 2024 is likely to start in April and run until at least July that could take quite some months, said Rabobank analysts in their latest report.

There is also a 60-80 percent chance of El Nino effects extending into the second quarter of next year, according to scientists from the US National Oceanic and Atmospheric Administration.