Peruvian anchovies, also known in some markets as Peruvian sardines, are harvested off the coast of Peru, with smaller catches south of the Chilean border that have a marginal impact on overall production. This fish is also by far the dominant species fished off the Peruvian coast, accounting for more than 80 percent of all national fish landings.
Despite recent attempts by the authorities to position the product in international markets as canned sardines in different formats, the market continues to be overwhelmingly dominated by fishmeal production. Thus, in any given year since 2007, regardless of the actual total catch, more than 98 percent of production was dedicated to this purpose. The one exception was 2010, when it accounted for 96 percent. That same year was also the peak for canned Peruvian anchovies, precisely when overall catches were disappointing, at 94,200 metric tons (MT).
Peru’s anchovy landings in recent years are a far cry from the peaks of around 14 million MT in the 1970s, but they have nevertheless averaged more than 6 MT annually through 2011, with the exception being 2010, when they were just 3.4 million MT. While the 2011 harvest recovered to 7.1 million MT. While it is still too early to say what is happening this year, official estimates through April shows fishmeal exports have increased 116.2 percent over the same period in 2011. However, private sources have produced contradictory information. Total fishmeal exports in 2011 were approximately USD 2.1 billion.
Last year more than 81 percent of Peruvian fishmeal was for export and the main markets were China (58.6 percent), followed by Germany (9.2 percent) and Japan (7.4 percent).Fishmeal prices were somewhat depressed at the beginning of the year compared to the same period last year (USD 1,295 per MT in January this year compared to USD 1,607 in January 2011), a trend that continued through April this year. In May things began to turn around and in June the price (USD 1,642 per MT) actually surpassed what it was in June 2011 (USD 1,508).
