Reefers loaded with Falklands' Loligo are rushing to Vigo most concerned about what will happen on April 12, when Britain is scheduled to leave the European Union, either with a hard Brexit or agree to further negotiations with EU and an extension period. In the first case Spanish companies in Galicia fear they might have to pay millions in EU tariffs
El Faro de Vigo, the newspaper which represents the interests of the fishing industry in Galicia, one of the more vigorous in the world, reports that three reefers are on their way to the Galician port, the first of which is scheduled to arrive on Saturday 13 April with some 6,000 tons of Falklands' Loligo.
A second and a third with 6.000 and 9.000 tons have left or are leaving before 12 April hoping that in the worst scenario case they can find a way out to an estimated 4 million Euros tariffs on 21.000 tons of Falklands' Loligo. According to the report the EU tariff on imported Loligo is 8%.
Spanish vessels are currently at the end of the Falklands' first Loligo season which took off on 24 January. In 2018, the catch of the first season was 43.085 tons and 35.827 in the second season later in the year.
In the case of a hard Brexit, and its surrounding uncertainty, Vigo companies are not sure if EU tariffs will be applied the moment the reefers reach Vigo or they can avoid them by leaving the Falklands for Galicia before April 12, reports the Vigo newspaper.