The Peruvian government implemented a total closure of its anchoveta fishing season in mid-August 2026, following an initial temporary suspension on 10 June. This decision is anticipated to have a substantial effect on the Peruvian economy and global markets.
The anchoveta industry is economically significant for Peru, with catches in some years valued at nearly $3bn and directly employing almost 50,000 people. The Peruvian central bank projects a 30.7% contraction for the fishing sector and approximately 78,000 job losses in 2026, with an additional 44,000 in 2027.
Over 90% of Peru's anchoveta catch is processed into fishmeal and fish oil, which are vital inputs for aquaculture, livestock agriculture, and nutritional supplements worldwide. Peru is the world's most important exporter of fishmeal, and prices for the commodity are reportedly skyrocketing as a result of the closure.
The decision to close the fishery was defended by Peru's then minister of production, César Quispe Luján, who stated the government has a responsibility to manage marine resources based on scientific criteria and a long-term vision. The Instituto del Mar del Perú recommended the closure due to risks posed by this year’s El Niño, which global climate models forecast to be severe.