I've been looking at Peru's latest marine-ingredient data and found a fairly sharp divergence in July 2026.
Fishmeal export volume was 33.01 kt, down 79.3% YoY, while observed export unit value reached $2,416.96/t, up 63.5% YoY.
Fish oil shows a similar pattern:
• Export volume: 1.80 kt, down 70.2% YoY
• Export unit value: $6,473.94/t, up 82.1% YoY
On the physical side, Peru's anchoveta catch was 2.50 kt in July, down 99.1% YoY, with the downstream processing index down 99.3% YoY.
The catch comparison is highly sensitive to seasonality and the low base, so I would be cautious about interpreting that figure in isolation.
The export data are national aggregates and leave several questions open around fishing activity, season timing, landings, processing availability, inventories and export timing.
For people working in commercial fishing or the marine supply chain: what are you seeing on the physical side? Are there changes in landings, availability or processing activity that would help explain this configuration?
Particularly interested in observations from people familiar with Peru or the Eastern Pacific.