MercoPress. South Atlantic News Agency

Argentine squid industry complains low prices

Since the beginning of the squid season last January 16 and the end of March, Argentina's Illex landings reached 123.845 tons, up 71.5% from the same period last year reported the Fisheries Undersecretariat in Buenos Aires.

In March alone the jigger fleet landed 62,871 tons, whereas in January, catches amounted to 8,351 tons, and in February, 52,623 tons. The largest catches, 69,521 tons, were landed at Puerto Deseado, whereas Mar del Plata received 16,096 tons, and Puerto Madryn, 31,777 tons.

However this season's large squid catch has caused prices to tumble in international markets. According to the local industry the ton of tube squid now sells at the range of 1,200 US dollars, half the price of last season, 2,500 US dollars, and the ton of whole squid, 600 US dollars the ton.

Mar del Plata industry sources said that "although last year's catches were lower, the season was better money wise, since prices allowed for good profits".

"Prices always drop faster than what they grow. Furthermore wholesale distributors seize the opportunity to stock up with low prices. If the next harvest registers low catches, we will be in the red and in deep trouble", added the sources. (FIS/MP).-