Peru Cancels 2026 Anchoveta Season, Threatening $1.4 Billion Hit as El Niño Warms Coastal Waters
Updated
Updated · The Guardian · Oct 15
Peru Cancels 2026 Anchoveta Season, Threatening $1.4 Billion Hit as El Niño Warms Coastal Waters
3 articles · Updated · The Guardian · Oct 15
Summary
Peru is set to cancel its 2026 second anchoveta season after already suspending fishing in June and fully closing the first season in August, according to local reporting from Chimbote.
Warm coastal waters from a severe El Niño have pushed anchoveta deeper and closer to shore, while scientists warned that juveniles and the plankton-based food chain face heightened risk.
The shutdown strikes a fishery that normally underpins about 20% of global fishmeal supply; fishmeal prices have climbed to nearly $3,500 a tonne, more than double a year earlier.
Peru estimates the closure could cost about $1.4 billion, with the central bank forecasting a 30.7% contraction in fishing and roughly 78,000 job losses in 2026.
The decision highlights how Peru is prioritizing stock conservation over short-term industry pressure as climate-driven El Niño extremes compound long-running overfishing stress.
Will the devastating loss of 78,000 jobs force Peru to rethink its economic reliance on a single, climate-vulnerable fish species?
As ocean temperatures rise, is the 2026 anchoveta crash a temporary El Nino anomaly or the permanent end of cheap fishmeal?
With Peru's fishery shut down and feed prices skyrocketing, can alternative proteins save the global aquaculture industry from collapse?
2026 Anchoveta Shutdown: Super El Niño Triggers $1.4 Billion Loss and Global Aquafeed Shock
Overview
In 2026, weakened Pacific trade winds pushed warm water into the Humboldt Current, blocking nutrient upwelling and causing plankton collapse. This led to severe nutritional stress and a surge of juvenile anchoveta, forcing Peru to suspend and then cancel its fishing seasons. The shutdown caused a 72% drop in fishmeal and 68% drop in fish oil production, triggering global shortages and soaring prices, especially for high-grade omega-3 oils. As a result, aquafeed producers turned to alternative ingredients and new trade routes, while local communities faced major income loss. The ongoing El Niño is expected to delay stock recovery and keep global prices high into 2027.