Pescaperú, Peruvian fishing corporation. The sudden disappearance of the schools of anchovy and other fish off the coast of Peru, due to the invasion of the warm water current called El Niño into the cold waters of the South Pacific in 1972, created a dire situation for the country's extensive fishing industry. In order to rescue the fish meal industry from bankruptcy, the government of Juan Velasco Alvarado nationalized it in May 1973 and created Pescaperú. It became the largest enterprise in Latin America, consisting of the country's 100 fish meal factories and 1,500-boat anchovy fleet. In addition to producing fish meal and oil, Pescaperú also formed joint-venture companies with foreign firms to catch and can other fish, especially tuna.
See alsoFishing Industry .
Arévalo Alvarado Zañartu, Alfonso. Historia y fundamentos de la pesquería del Peru. Lima: [s.n.], 1995.
Peter F. KlarÉn