MercoPress. South Atlantic News Agency

Argentina: Vessels quit fishing squid for lack of markets

Low prices and a glut on the market for Illex squid has made it unprofitable for the time being

Abundance in offer added to the lack of new markets and storage space for squid (Illex argentinus) landings, is driving vessels belonging to companies of Galician capital operating in Argentine waters away from the fishery grounds once their cargo space is filled.

"Once our holds are filled we return to port, there is no use in continuing fishing. We regret this, but as it stands, the fishery is resulting in losses," according to the manager of the Galician squid company with vessels based in Puerto Madryn (Chubut). For now, only 10 vessels will continue fishing in the area of Puerto Deseado (Santa Cruz) until completing their commitment to the market, published the La Voz de Galicia. According to the above mentioned source, the vessels Estrella 6 and Estrella 8, of the Hansung Ar,were the last vessels, of companies of Spanish capital, to return to the Buenos Aires port after landing the contents of their holds. Sources from the sector indicated that the abundance of squid reported in the nearby fishery grounds of the Falkland Islands, south of parallel 49º S, has contributed to saturating European markets given the ongoing low cephalopod prices. Others say that the large amounts of vessels operating outside the Argentine 200-mile zone has been a major detrimental factor for fisheries. "No sector can withstand 400 vessels operating outside the 200 miles; the market is saturated with squid from those vessels, which don't have the operational costs we face," said an executive. He added that they had been catching good-sized squid after a phase of small-sized catches and that the fishery is still good between the 44 and 49 º S parallels. "We are not leaving beforehand for lack of squid, rather for lack of demand in the market," specified the shipowner. According to data released by the National Fisheries Subsecretariat (SSP&A) of the Secretariat of Agriculture, Livestock, Fisheries and Foods (SAGP&A), during the first four months of this year 129,392.6 tonnes of squid were landed in the maritime ports of the country. In the month of April, landings amounted to 46,051 tonnes, which equalled 43.6 per cent of the total fisheries landings. (FIS)