The sector has recorded weak growth rates, the sea has warmed up as a result of the arrival of the capricious El Nino phenomenon, quotas for the Peruvian anchoveta harvest have been reduced, and some of the sector's titans, like Copeinca and China Fishery, have declared bankruptcy. Other important players, like Exalmar, have posted losses for three consecutive semesters.
Despite recent adversity, Peru is the world's main exporter of fish flour, with 16.4% of global production. Between 2001 and 2010, the country produced, on average, 26% of world production, and also was the principal global producer of squid.
As with other sectors of the economy, fishing has been completely transformed over the past 20 years. In 2000, Peru's exports stood at $6.95 billion, but by 2012 this figure had ballooned to $47.4 billion.
After the turn of the century, when Grupo Brescia finalized the purchase of the nation's leading fishery and fish processor, a profound reorganization of the industry began. The consolidation left only seven large fish firms operating at the national level. This trend was complemented by the Law of Individual Quotas which took effect in 2009 and established a more...