Peru anchovy quota down

Reuters is reporting that Peru is slashing its anchovy quota by nearly 70% for November-January to a mere 810 000 tonnes following IMARPE survey cruise that indicated a weak stock with biomass of 5.3 million MT, far below 6 million MT which is considered sustainable. A mild El Nino is partially to blame for the situation. Nordic-listed companies affected by the move include Austevoll Seafood (OSE: AUSS) and Copeinca (OSE: COP). To partially offset this, fishmeal and fishoil sales from the existing stock could help somewhat in the short-term, as the quota decision is likely to support strong prices going forward.