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Ecuador And Peru Fighting A Losing Battle With China On Giant Squid Fishing In The Southeast Pacific
Thursday, February 16th 2023 - 20:54 UTCFull article
The squid catch has increased: in the last five years alone, between 800,000 tons and 1.16 million tons have been caught. China has a declared fleet of 671 ships. Giant squid, squid or Dosidicus gigas, measures up to 3 meters in length and can reach 50 kilos in weight. It is one of the main species of the southeastern Pacific Ocean and at the same time it is one of the species with the greatest commercial pressure in the world. Thousands of tons are extracted every month, a large part, from the international waters located off the seas of Ecuador, Peru and Chile. The main player behind that voracious appetite is China: it has a declared fleet of 671 ships.
The squid catch has increased over the last 20 years. In the last five years alone, between 800,000 tons and 1.16 million tons have been caught. This accelerated pressure on the species has alerted experts. And precisely this week an event in Ecuador is discussing measures to guarantee the sustainability of the species: the annual meeting of the Commission of the South Pacific Regional Fisheries Management Organization (SPRFMO)
Giant squid fishing on the high seas is regulated by the SPRFMO, an international agreement made up of countries with fishing interests whose objective is to guarantee the conservation and sustainable use of the waters located off the coasts of Ecuador, Peru and Chile. In other words, it regulates the extraction of giant squid outside the maritime zone that belongs to the States.
In the midst of the discussion on how to avoid the collapse of the species, one of the countries that has sent its proposal was China. On December 24 of last year, it sent an official proposal on how to limit the expansion of the jiggers fleet. The proposal was addressed at the meeting held in Manta, Ecuador
SPRFMO brings together 15 countries, including China, Korea, Taiwan, the United States, Peru and Ecuador.
The scientific committee of this organization ratified last year the urgency of limiting the fishing effort and stopping the growth of the Chinese fleet, which concentrates more than 90% of the fishing in international waters.
China's proposal is that the fleet limit be established based on the number of vessels and tonnage authorized until December 31, 2020. However, for this purpose, the number of registered vessels, instead of the number of operational vessels, as of December 2020.
As of December 2020, China has registered 671 vessels, while Taiwan reported 45, South Korea 30. Under these standards, the Chinese fleet and extraction capacity have no counterweight.
Ulises Munaylla, a Peruvian biologist and former member of the SPRFMO scientific committee, explains that "the number of operational vessels" should have been considered, which in the case of China is 557, since with the 671 registered "the effort would not be limited, rather, the possible overexploitation of the resource would continue to be allowed".
The scientific committee also recommended that coastal States that have not developed the jumbo squid fishery should do so in a regulated manner.
The biologist questions the lack of coordination of the neighboring countries to achieve a joint position that defends the interests of the coastal States. The most significant expression of the absence of a regional vision is that Peru and Ecuador have presented different proposals for the SPRFMO meeting.
Ecuador plans to regulate the transfer of squid among vessels on the high seas (so that it can be processed, without reaching a port) and progressively increase the number of observers on vessels that extract resources on the high seas. Currently only 5% of vessels have observers.
This proposal recommends that by the year 2026, 30% of vessels, longer than 24 meters, must have at least one qualified observer to collect data. This percentage –according to the approach– should increase from 2024 (10%) and 2025 (20%). However, China is reluctant to increase a larger number of observers.
Squid catches in Peru are considered the second most important fishery, only surpassed by anchovy. In 2021, this country exported 370,889 tons, 30% more than the previous year, very close to the historical peak of 2019, when it reached a total of 382,469 tons. The main destination of everything extracted was China.
Adding up what is extracted in both international and national waters, Peru and China almost equal the amount of annual squid fishing. This despite the fact that there is a huge difference between the two fleets: the Peruvian fleet is made up in 2022 of 4,248 artisanal vessels that fish in national waters, while the Chinese fleet, of 527 industrial vessels (in 2021), with a far greater capacity and catch in international waters.
The regulation of squid catches in Peruvian national waters is the responsibility of the Ministry of Production. Besides Peru has established an annual quota for the catch within its 200 nautical miles. The quota normally fluctuates around half a million tons per year. This is defined by the Peruvian Sea Institute (Imarpe), Production's scientific entity, which evaluates and issues a report on the situation of the species and its fishing prospects for the following year.
The great challenge of the Peruvian fishery is to enter international waters. As of January 2023, only six artisanal vessels, with a hold capacity of no more than 26 cubic meters, were registered with the OROP-PS, that is, only those could carry out squid fishing on the high seas.
With that tiny number of small vessels, if a quota were established based on the historical fishing record and the fleet was maintained, as suggested by the Chinese proposal sent to the SPRFMO, Peru would have a lot to lose in the face of the powerful fleet China, since it would take into account what was caught in international waters, not in national ones.
South America Squid Left Exposed Amid Surge In China Fishing
MIAMI--Negotiators from the U.S., China and 13 other governments failed to take action to protect threatened squid stocks on the high seas off South America amid a recent surge in activity by China's distant water fishing fleet.
The South Pacific Regional Fisheries Management Organization, or SPRFMO, is charged with ensuring the conservation and sustainable fishing off the west coast of South America.
At the SPRFMO's annual meeting that ended Friday, Ecuador and the European Union proposed measures that would require all ships to have observers on board by 2028 and mandate they unload their catches only in ports instead of at sea to giant refrigerated vessels — both considered key tools in limiting illegal, unreported and unregulated fishing.
There were also competing proposals, one of them from China, to limit the amount of squid that could be caught.
However, none of the proposed measures were adopted during the closed-door meeting, thwarting the efforts of environmentalists and some seafood importers in the U.S. And Europe who have been pushing for restrictions of fishing on the high seas that make up about half of the planet.
CALAMASUR, a group made up of squid industry representatives from Mexico, Chile, Peru and Ecuador, attended the four-day virtual meeting as an observer and said it was deeply disappointed by the results, which it said expose the SPRFMO to being seen as "non-cooperative" in the fight against illegal, unreported and unregulated fishing,
"This situation cannot be accepted as an outcome," the group said in a statement.
Craig Loveridge, the executive secretary of the New Zealand-based SPRFMO, did not respond to a request for comment.
The number of Chinese-flagged vessels in the south Pacific has surged 13-fold from 54 active vessels in 2009 to 707 in 2020, according to the SPRFMO. Meanwhile, the size of China's squid catch has grown from 70,000 tons in 2009 to 358,000.
Biologists warn that the boom has left the naturally bountiful Humboldt squid — named for the nutrient-rich current found off the west coast of South America — vulnerable to overfishing, as has occurred in Argentina, Mexico, Japan and other places where squid stocks have disappeared in the past.
An investigation by The Associated Press and Spanish-language broadcaster Univision last year revealed how the traditionally lawless area has become a magnet for some of the seafood industry's worst offenders, many of them Chinese-flagged vessels with a history of labor abuse accusations and convictions for illegal fishing.
Squid Market To Reach $16.5 Bn By 2032, Says Global Market Insights Inc.
Global Market Insights Inc.
Major squid market participants include Pescanova, Bigsams Seafood, Thai Union Group, Qingdao Seaflying Food Co., Ltd., Xiamen Taiseng Seafoods CO., LTD., Minh Khue Seafood, Lee Fishing Company, Holmes Seafood, Holt Seafood, Seaquest Seafood Corporation, Seafood Pride International and Freshkatch
Selbyville, Delaware, Feb. 06, 2024 (GLOBE NEWSWIRE) --
The squid market valuation is poised to be worth USD 16.5 billion by 2032, as reported in a research study by Global Market Insights Inc.
The rising seafood consumption, particularly within the industry is surging the demand for squids and squid products. Amidst the growing popularity of seafood, squid has emerged as a flavorful and protein-rich option for snack formulations. The growing preference for innovative and exotic snack choices also matches the versatility of squids, leading to the creation of diverse squid-based options, such as calamari chips and seasoned squid strips. With consumers seeking unique and globally inspired flavors, the integration of squid into snack products is likely to surge, further accelerating the industry expansion.
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Frozen squid market is expected to depict 3.4% growth from 2024 to 2032. Frozen squids offer convenience, extended shelf life, and year-round availability, emerging as preferred choices for consumers and the food service industry. The freezing process helps retain their freshness and nutritional value while ensuring a stable supply chain. Frozen squids also cater to various culinary applications, from appetizers to main courses. The convenience factor coupled with the growing demand for seafood is likely to foster the segment growth.
Squid market from the snacks industry end-use application segment is projected to record over 17.4% revenue share by 2032. Squid is gaining popularity as a savory snack option due to its unique texture and versatile flavor profile. With consumers seeking innovative and protein-rich alternatives in their snack choices, squid-based snacks are offering a convincing and exotic option. The incorporation of squid into various snack formats, such as dried or seasoned squid strips, calamari chips, and other creative formulations to cater to the evolving taste preferences of consumers will also propel the market growth.
Story continues
North America squid market is set to exhibit robust growth at 3.5% CAGR between 2024 and 2032, owing to the rising demand for diverse and sustainable seafood options within the region. Due to their versatility and mild flavor, squids are gaining popularity among American consumers seeking alternative and nutritious protein sources. Additionally, the presence of culinary diversity and the increasing preference for international cuisines coupled with the emerging trend of health-consciousness with a focus on lean protein will boost the regional industry growth.
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Some of the leading companies operating in the squid market are Pescanova, Bigsams Seafood, Thai Union Group, Qingdao Seaflying Food Co., Ltd., Xiamen Taiseng Seafoods CO., LTD., Minh Khue Seafood, Lee Fishing Company, Holmes Seafood, Holt Seafood, Seaquest Seafood Corporation, Seafood Pride International, and Freshkatch. Strategic initiatives, such as acquisitions and partnerships are increasingly undertaken by these industry players to enhance supply chain efficiency, expand market reach, and bring innovative squid-based products to consumers. For instance, in October 2023, Oceano Seafood acquired Sea Fresh USA, one of the major suppliers of premium squid in the U.S.
Partial chapters of report table of contents (TOC):
Chapter 1 Methodology & Scope1.1 Market scope & definition1.2 Base estimates & calculations1.3 Forecast calculation1.4 Data sources1.4.1 Primary1.4.2 Secondary1.4.2.1 Paid sources1.4.2.2 Public sourcesChapter 2 Executive Summary2.1 Squid market 3600 synopsis, 2018 - 20322.2 Business trends2.2.1 Total Addressable Market (TAM), 2023 - 20322.3 Squid type trends2.4 Product type trends2.5 Distribution channel trends2.6 End-use application trends2.7 Regional trendsChapter 3 Squid Market Insights3.1 Impact of COVID-193.2 Impact of the Russia-Ukraine war3.3 Industry ecosystem analysis3.4 Technology & innovation landscape3.5 Patent analysis3.6 Key news and initiatives3.6.1 Partnership/Collaboration3.6.2 Merger/Acquisition3.6.3 Investment3.6.4 Product launch & innovation3.7 Regulatory landscape3.8 Impact forces3.8.1 Growth drivers3.8.1.1 Rising Seafood Consumption3.8.1.2 Growing popularity of ethnic cuisines3.8.1.3 Health benefits associated with squid3.8.2 Industry pitfalls & challenges3.8.2.1 Overfishing3.8.2.2 Price Volatility of Squid3.9 Growth potential analysis3.10 Porter's analysis3.11 PESTEL analysisBrowse our Reports Store - GMIPulse @ https://www.Gminsights.Com/gmipulse
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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