LIMA (Dow Jones)–Peru’s anchovy catch is set to fall by about 40% this year due to climate-change factors, said the Minister of Production.
Jorge Villasante told newspaper El Comercio on Wednesday that the 2010 anchovy catch was down to about 3 million metric tons, from a more normal 5 million tons.
Peru is the world’s largest producer and exporter of fishmeal, which is made mainly from anchovies and used primarily as animal feed.
Villasante blamed the sharp drop in catch levels on a temporary climate change phenomenon known as La Nina, which cools Peru’s fishing waters.
In the same report, Peru’s National Fishing Society said higher prices would somewhat compensate for the drop in production, with fishmeal export values expected to fall by only about 10% compared to last year.