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During the 1972 fishing season, Peruvian fisheries who largely depended on catching Peruvian anchovetas, a species of anchovy, faced a crisis in which the previously abundant population of anchovetas began to heavily deplete as a result of overfishing from previous seasons and as a result of that year's strong El Niño current. The 1972 catch ...
The Peruvian anchoveta (Engraulis ringens) is a species of fish of the anchovy family, Engraulidae, from the Southeast Pacific Ocean. It is one of the most commercially important fish species in the world, with annual harvests varying between 3.14 and 8.32 million tonnes from 2010 to 2021.
The Peruvian anchovy fishery is one of the largest in the world, far exceeding catches of the other anchovy species. In 1972, it collapsed catastrophically due to the combined effects of overfishing and El Niño [42] and did not fully recover for two decades.
The Peruvian coastal anchovy fisheries crashed in the 1970s after overfishing and an El Niño season [20] largely depleted the Peruvian anchovetas from its waters. [ 21 ] [ 22 ] Anchovies were a major natural resource in Peru ; indeed, 1971 alone yielded 10.2 million metric tons of anchovies.
In terms of productivity, a study that exploits a 2009 reform that introduced IFQ for Peruvian anchovy finds that quotas do not increase within-asset or within-firm productivity in quantities. [24] In 1995, the Alaskan halibut fishery converted to ITQs, after regulators cut the season from about four months down to two or three days. Today, due ...
Before over fishing killed its fishery, Peru had the world's most productive fishery due to the cold Current. It lifts nutrients from the Pacific floor to surface waters. On land, it results in a cold mist that covers coastal Peru to the extent that desert plants have adapted to obtain water from the air instead of from (infrequent) rainfall.
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In recent years an accelerating decline has been observed in the productivity of many important fisheries. [31] Fisheries which have been devastated in recent times include (but are not limited to) the great whale fisheries, the Grand Bank fisheries of the western Atlantic, and the Peruvian anchovy fishery. [32]