Option 1: El Nino. This is incorrect. El Nino refers to the irregular warming of the Pacific Ocean, causing changes in weather patterns and ocean currents.

Option 2: Humboldt current. This is the correct answer. The Humboldt current is a cold oceanic current that flows northward along the coasts of Chile and Peru. It is caused by the upwelling of cold, nutrient-rich water from the deep ocean. This current plays a crucial role in supporting the high productivity of marine life along these coasts, as it brings nutrients to the surface, attracting fish and other organisms.

Option 3: Agulhas current. This is incorrect. The Agulhas current is a warm ocean current that flows along the eastern coast of South Africa, carrying warm water from the Indian Ocean towards the South Atlantic Ocean.

Option 4: Canary current. This is incorrect. The Canary current is a cool oceanic current that flows southward along the western coast of Africa, providing important nutrients to support marine life in the region.

In conclusion, the current produced by the upwelling of cold water off the coast of Chile and Peru is known as the Humboldt current.