What Lies Beneath: Uncovering the truth about Peru’s colossal fishmeal and fish oil industry

Peru is the world's largest producer of fishmeal and fish oil (FMFO), primarily using anchoveta to supply global aquaculture. The report argues that the industry is plagued by systemic corruption, including the underreporting of catches and the illegal harvesting of juvenile fish. It highlights a 'phantom fishmeal' gap where exports consistently exceed reported production. The document also details severe environmental degradation in Chimbote and the diversion of fish intended for human consumption to animal feed. Furthermore, it exposes how major producers like TASA and Austral Group violated health protocols during the Covid-19 pandemic. The report concludes that certification bodies like MarinTrust provide 'greenwash' for unsustainable practices and calls for a phase-out of FMFO in aquaculture.

• Peru is the global leader in fishmeal and fish oil (FMFO) production, accounting for one-third of global production and exporting over 1 million tonnes annually.
• Major Peruvian FMFO producers, including TASA, Austral Group, Diamante, CFG Investment-Copeinca, Exalmar, and Hayduk, have systematically overfished juvenile anchovies since 2016, exceeding the 10% legal limit.
• The report identifies a pattern of collusion between the Peruvian Marine Research Institute (IMARPE) and industry executives to inflate anchovy biomass data to justify higher fishing quotas.
• Significant quantities of anchovy intended for direct human consumption are illegally diverted to FMFO production, contributing to food security issues in Peru where 13.1% of children under five suffer from chronic malnutrition.
• The city of Chimbote is described as one of the most polluted places on earth due to FMFO production, with air quality so poor in 2019 that residents were advised not to be outdoors on 212 days of the year.
• During the 2020 fishing season, FMFO companies TASA and Austral Group violated safety protocols, leading to widespread Covid-19 infections; at TASA's Vegueta plant, 76% of union-represented workers were infected.
• The report maps supply chain links showing that Peruvian FMFO is sourced by major European aquafeed companies such as BioMar, EWOS/Cargill, and Skretting, which in turn supply global salmon producers like Mowi and Lerøy.
• The MarinTrust certification is characterized as 'corporate greenwash' because it certifies companies involved in underreporting catches, overfishing juveniles, and corruption.

APA

Changing Markets Foundation (2020). What Lies Beneath: Uncovering the truth about Peru’s colossal fishmeal and fish oil industry. https://changingmarkets.org/wp-content/uploads/2023/10/What_Lies_Beneath_full_report.pdf

Chicago

Changing Markets Foundation. What Lies Beneath: Uncovering the truth about Peru’s colossal fishmeal and fish oil industry. 2020. https://changingmarkets.org/wp-content/uploads/2023/10/What_Lies_Beneath_full_report.pdf.

Wikipedia

{{cite report |author=Changing Markets Foundation |title=What Lies Beneath: Uncovering the truth about Peru’s colossal fishmeal and fish oil industry |date=November 2020 |url=https://changingmarkets.org/wp-content/uploads/2023/10/What_Lies_Beneath_full_report.pdf |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{changingmarketsfoundation2020what, author = {{Changing Markets Foundation}}, title = {{What Lies Beneath: Uncovering the truth about Peru’s colossal fishmeal and fish oil industry}}, institution = {Changing Markets Foundation}, year = {2020}, month = nov, url = {https://changingmarkets.org/wp-content/uploads/2023/10/What_Lies_Beneath_full_report.pdf}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }