Peru’s production of fish oil and meal may plunge in coming months, potentially creating an “explosive” price situation, researcher Oil World said.
Peru’s oceanographic institute Imarpe found low fish stocks during a summer survey, and has advised not opening a second fishing season before a new evaluation in late October or early November, Hamburg-based Oil World wrote in a weekly report.
Fishmeal prices in Peru rose 1.2 percent to $1,720 a metric ton as of Oct. 9 from a week earlier, and are up from $1,300 a year ago, data from Oil World show. Peru is the world’s largest fishmeal exporter.