Producer
Copeinca / China National Fisheries Corporation (CNFC)
Copeinca AS (originally a Norwegian-listed Peruvian fishmeal company) was acquired by China National Fisheries Corporation (CNFC) — a subsidiary of China National Agricultural Development Group (CNADC, a Chinese state-owned enterprise) — in 2013 for approximately $1.65 billion. This acquisition was the largest single Chinese investment in Peru's fishing industry and gave China's state sector direct control over a major Peruvian fishmeal producer. Copeinca holds significant Peruvian anchovy quota allocation (second-largest individual quota holder after TASA) and operates reduction plants along Peru's Pacific coast. The CNFC acquisition raised food security concerns: Chinese state ownership of Peruvian fishmeal directly supports Chinese aquaculture (salmon, shrimp) and animal feed industries, connecting Peruvian ocean biomass to Chinese food supply chains.
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1 input Copeinca / China National Fisheries Corporation (CNFC) supplies
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Peruvian Anchovy Fishmeal
65%Anchovy Fish Oil (Omega-3)
35%
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Concentration2013
China National Fisheries Corporation (CNFC) — a subsidiary of China National Agricultural Development Group (CNADC), a Chinese Communist Party-linked state-owned enterprise — completed the acquisition of Copeinca AS (Peru's second-largest fishmeal company) in 2013 for approximately $1.65 billion. This was the largest Chinese investment in Peru's fishing industry and gave a Chinese SOE direct control over approximately 8-10% of Peruvian anchovy quota — translating to approximately 5-7% of global fishmeal supply. The acquisition means Chinese state enterprises now control a portion of the Peruvian anchovy resource that feeds Norwegian salmon farms, US aquaculture operations, and the global omega-3 supplement supply chain. No US regulatory body reviewed the CNFC acquisition for national security implications (CFIUS jurisdiction does not extend to Peruvian assets). The deal illustrates China's systematic investment in global food input supply chains — analogous to Chinese control of cobalt through DRC mining, or rare earths through processing dominance — but in the protein and omega-3 supply chain sector.
Reuters ↗Origin2023
Copeinca (Compañía Pesquera Inca SA) was originally a Peruvian fishmeal company that attracted Norwegian investment capital when Norwegian pension funds and maritime investors recognized the value of Peruvian anchovy quota as a scarce resource. Copeinca was listed on the Oslo Stock Exchange — a Norwegian-listed Peruvian fishing company, reflecting the Norwegian maritime industry's deep involvement in the global fishmeal trade. China National Fisheries Corporation (CNFC), a subsidiary of China National Agricultural Development Group (CNADC), acquired Copeinca in 2013 for $1.65 billion — at the time the largest single Chinese investment in Peru. The acquisition reflected China's state strategic priority of securing protein feed inputs for its massive aquaculture industry: China produces approximately 60% of the world's farmed seafood, and its shrimp, carp, tilapia, and salmon aquaculture consumes an enormous proportion of global fishmeal. By owning a major Peruvian anchovy quota holder and fishmeal producer, the Chinese state secured a direct supply chain from Peruvian Pacific fishery biomass to Chinese fish farms. Norwegian pension fund money that bought into the Peruvian anchovy quota was replaced by Chinese Communist Party state capital managing the same anchovy harvest for the same purpose: feeding farmed fish.
Copeinca AS / CNFC ↗