Low Supply of Azorean Squid in Portugal

The Portuguese Azorean squid fishing season, one of the best varieties of squid in the world, is not going as expected. The total catch volume is very low, and the product is being sold fresh in the domestic market at high prices. The prices skyrocketed to more than USD 16/kg for frozen squid with fresh squid trading even higher. At this time of the season the fishing boats don’t want to sign short or medium term contracts with the main processors for two main reasons. Firstly, fishing boats cannot guarantee volumes and secondly, the price is expected to remain high and they do no want to be contractually bound to receive a lower price and prefer the spot price.