June 23, 2016 — Fishing for anchovy started late this year in the main producing area of Peru, and the supply of fish meal used as an ingredient in feed for farmed fish is unstable.
In the main producing area of Peru, catches were poor at the end of 2014 and no quota was allocated for the 2015 season. The poor catches are attributed to the El Niño phenomenon, which changes ocean currents and water temperature.
In Peru, the season for catching anchovy for fish meal is usually from April to July and from November to February. Trial fishing was conducted before the season, to determine the total allowable catch. Usually the quota is announced in April, but this year no announcement was made until well into June, so fishing is only getting started. As it is rare for the fishing the season to be extended into August or later, it is likely that the season will simply be shortened, resulting in a continued supply shortage.
The good news is that the El Niño may have ended. The US National Oceanic and Atmospheric Administration (NOAA) on 9 June reported that El Niño indices were near zero by the end of May. Based on surface and subsurface water temperatures NOAA reported, “For the first time in 2016, atmospheric anomalies over the tropical Pacific Ocean were also consistent with ENSO-neutral conditions.” (ENSO stands for El Niño–Southern Oscillation.)
Spot prices for prime fish meal were at a high point of USD 2,390 (JPY 248,966; EUR 2,119) per metric ton in December 2014. Currently, the price is at USD 1,530 (JPY 159,379; EUR 1,356). So, it is less a problem of price than of unpredictable supply.