On-the-Ground Updates

Reduced Fishing Activity in Argentina and Uruguay Drives Up Hake and Giant Squid Prices

Frozen Hake

Portugal

Guilherme Rua

Published Mar 15, 2024

Hake (M. hubbsi) and Giant Squid (D. gigas) fishing activities in Argentina and Uruguay are experiencing a downturn currently, with vessels idling at ports due to depleted natural stocks. Companies are implementing measures to allow stocks to replenish, which is uncommon for this time of year. As a result, prices for these seafood products are increasing, fueled by robust demand in Portugal and Spain. Even prominent Spanish importers are encountering difficulties in securing adequate stock. The situation is being evaluated weekly, but the outlook for these products remains unfavorable.

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