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Giant Squid: to Regulate or to Plunder

PERU
Saturday, February 07, 2026, 00:10 (GMT + 9)

Between March 2 and 6, Panama City will host the 14th meeting of the South Pacific Regional Fisheries Management Organization (SPRFMO), a decisive gathering for the future of transboundary high-seas fisheries and, in particular, for the giant squid or pota (Dosidicus gigas), the most abundant cephalopod on the planet.

The SPRFMO, in force since 2012, was created with a clear mandate: to apply the precautionary approach to ensure the conservation and sustainable use of the resources under its authority. However, its performance raises doubts. The jack mackerel precedent is illustrative. Despite its long history of exploitation and its primary destination being direct human consumption, Peru ended up with a marginal 2% quota, reflecting deficient state action and limited negotiating capacity. Panama represents an opportunity not to repeat that mistake.

At this meeting, nine conservation and management proposals related to pota will be discussed, a species that on the high seas is subject to an open-access regime, with no catch limits or clear rules, in stark contrast to the strict measures applied by Peru and Chile to their artisanal fleets in jurisdictional waters. This unfair regulatory asymmetry constitutes one of the main failures of the international fisheries governance system in the South Pacific.

Among the proposals, one stands out for its political and technical relevance: the adoption of an annual catch limit, based on historical average catches of distant-water fleets. This initiative is fully aligned with the precautionary approach enshrined in the SPRFMO Convention and in the FAO guidelines. If adopted, it would mark a shift from blind exploitation to science-based management. It is difficult to justify why a mandatory principle continues to be postponed, especially when dealing with a resource of the magnitude of the giant squid.

The urgency of the debate is evident. On the high seas, an Asian fleet with enormous extractive capacity is operating, whose landings have grown excessively, even surpassing Peru in some recent years, such as 2024. This increase has raised concern within the SPRFMO Scientific Committee, which has warned about the risks of maintaining an unlimited fishery on a stock that shows signs of stress.

In this context, the role of the Peruvian State is unavoidable. Peru not only has a legitimate interest in this discussion, but also a historical responsibility. It has been one of the countries that has most strongly supported the development of this fishery, doing so on the basis of an artisanal fleet that is steadily advancing toward formality and sustainability. Defending this effort in the international arena is not a diplomatic gesture, but a governmental obligation toward the thousands of families that depend on this resource.

Responsibility, however, is shared. The coastal states — Ecuador, Peru, and Chile — must act with greater cohesion, something that has not yet been achieved. It is unavoidable to question the role of the Permanent Commission for the South Pacific (CPPS), created to defend regional fisheries interests, but which has not been able to lead or articulate a common and effective position in forums such as the SPRFMO.

Likewise, the other members — the United States, the European Union, Australia, New Zealand, South Korea, Panama, and others — will have to decide whether their rhetoric in favor of high-seas security and marine sustainability is coherent with their political decisions.

Panama cannot be just another meeting: it will be the moment when the SPRFMO shows whether it intends to govern high-seas fishing or merely observe its depletion.

Author/Source: Alfonso Miranda Eyzaguirre / Diario Expreso

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