Photo: Revista Puerto

Squid Boosts Argentine Fishing Exports in Mixed Landscape

ARGENTINA
Wednesday, June 25, 2025, 16:00 (GMT + 9)

While Squid and Shrimp Tails Bolster Sales, Hake and Whole Shrimp Face Significant Declines in First Five Months

BUENOS AIRES – Argentina's seafood exports saw a 5.3% growth in May compared to the same period last year, primarily driven by a robust squid season and an increase in shrimp tail sales. However, the overall sector presents a mixed picture, with significant drops in hake fillet and whole shrimp sales, according to a Revista Puerto report using data from INDEC and CAPECA.

Photo: Revista Puerto

In the first five months of the year, Argentina exported a total of 243,490 metric tons of fishery products, generating $879.23 million USD in revenue. Illex squid has been the main growth engine, accounting for over a quarter of the total export volume and generating the highest foreign currency earnings.

Squid: The Season's Bright Spot

Illex squid is the star product of the season. Thanks to a successful catch campaign, exported volume reached 135,227 tons, marking a 10% increase in demand. Revenue grew a remarkable 20.8% due to a 9.7% rise in the average price, settling at $2,769 USD per ton. In total, squid has generated $374.39 million USD, solidifying its position as the product with the highest sales volume and foreign currency income. China acquired 65% of the catch, while Thailand and Spain also stood out as key markets, with the latter paying the highest price for processed products.

Photo: Revista Puerto

Shrimp: Contrasts Between Whole and Tails

Shrimp tails, primarily caught by fresh fish vessels, show more encouraging figures, with a 12.8% growth in demand, reaching 31,085 tons sold. Despite a slight 0.8% price drop to $7,311 USD per ton, this product generated $227.27 million USD in revenue. China was the main market, increasing its demand by 6.5%, followed by Peru, an important destination for reprocessing. The United States, which demands more elaborate products, increased its purchases by 22%, paying $11,486 USD per ton.

In contrast, whole shrimp presents a gloomy outlook, with a 41.7% drop in sales volume, exporting only 8,196 tons. Revenue plummeted 44.5% due to a 4.8% price decrease, settling at $5,132 USD per ton. Spain, Italy, and Japan, traditional markets, drastically reduced their purchases (between 46.9% and 55%).

Hake: Challenges and New Horizons

Hake fillet exports continued their decline, with a 14.3% drop in volume and a 17.3% decrease in revenue, at an average price of $3,166 USD per ton. Brazil, its main market, reduced its purchases by 17.8%, and sales to Spain also fell by 7.6%.

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However, frozen hake in other presentations showed resilience, with a smaller drop in volume (4.6%) and a slight decrease in revenue (2.8%), thanks to a 7.8% increase in the average price ($1,624 USD per ton). Russia reduced its demand, but Ukraine increased it by 53.9%. Furthermore, Jordan emerged as a new market, and Lebanon and Macedonia increased their purchases.

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Patagonian Toothfish and King Crab: Opposing Demands

Patagonian toothfish (Merluza negra) maintained sustained demand, with a 12.3% growth in volume compared to last year. The United States, its main market, increased its purchases by 36%. The price also saw a considerable 7.4% rise, reaching $27,280 USD per ton, generating $24.53 million USD for 899 tons.

Photo: Revista Puerto

On the other hand, king crab (centolla) experienced a sharp contraction, with exports down 37% from the previous year. Despite a demand increase from the United States (39%), the drop in the Chinese market (56%) was more pronounced, and the average price fell 6.3% to $19,010 USD per ton, with revenues of $12.26 million USD for 645 tons.

This export balance reflects the complex reality of the Argentine fishing sector, where the success of certain species fails to offset the overall weakness of others.

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