In 2021, Peruvian fishery exports are approaching $3.5 billion, up 39 percent from the previous year, with exports of fishmeal and fish oil valued at about $2.3 billion.

Cayetana Aljovin, president of the Peruvian National Fisheries Association (SNP), said, "Peru's seafood industry is the foundation of the country's economic recovery, especially during a period when the country was hit hard by the epidemic, and revenue generation from the fishmeal and fish oil segment supported the entire industry."

The Peruvian Fisheries Association and the Central Reserve Bank expect that fishmeal and fish oil production will continue to grow in 2022, with the overall health of Peru's offshore fisheries biological resources in good condition and favorable marine climatic conditions for anchovy growth and reproduction.

China is Peru's main export market for fishmeal and fish oil. 1.2 million tons of fishmeal were exported in 2021, up 44 percent from the previous year, of which more than 80 percent went to China. China's fishmeal imports from Peru mainly go to the feed industry, while fish oil is further processed and exported worldwide as a dietary supplement.

It is currently a slow season for the Peruvian aquaculture industry, with little production of marine raw materials expected from January to April 2022 and estimates to the fact that most of it will come from by-products.

In addition, prices for both steam fishmeal and fish oil are currently at high levels due to the impact of the Russian and Ukrainian wars, and according to a survey by Keynovo's Purchasing Department, Peruvian anchovy raw materials are 60% more expensive than before the Chinese New Year.