Peru Boasts Second Largest Fishing Industry, Targets Chinese Market
A report published in 2010 by the Food and Agriculture Organization of the United Nations confirms P…A report published in 2010 by the Food and Agriculture Organization of the United Nations confirms Peru as the second largest marine and inland capture fisheries industry in the world at 7.4 million tons, exactly half the 14.8 million tons caught by global leader China. Canned fish and frozen fish are among its most popular exports.
According to Peruvian government data, the fisheries industry generates around 10% of gross domestic product. Exports for 2011 reached nearly $1.05 billion, of which about $412 million came from sales of frozen giant squid. The industry is regulated by the Ministry of Production and supported by the Peruvian Institute of the Sea. The country's regulatory framework includes the setting of the quota catch system and implementation of temporary bans to ensure natural resources
have sufficient time to recover and replenish.
Given its strategic geographical location and favorable climate, Peru is a leading source and exporter of fish and fish-related products to countries around the world, including China, with several deep-sea fishing companies competing for precious catches. Home to several hundred species of fish, Peru's nutrient-rich waters teem with high-value species like sea bass, mackerel, tuna, herring, anchoveta and other marine life such as crab, lobster and molluscs.
"The private sector is making significant investments, particularly in frozen and canned seafood products. Special presentations with specific sauces or spices are also being developed to meet growing demand from around the world," said Eduardo McBride, president of the Peru-China Chamber of Commerce. "With China preparing to invest around $10 billion in Peru over the next five years, sectors like fisheries and manufacturing offer investors huge potential."
