Peru’s giant squid fishery facing worst crisis in history

Published 2024년 12월 5일

Tridge summary

Peru's giant squid fishery and processing industry are experiencing a severe crisis, with catches at record lows and a projected drop in value and volume for 2024. The crisis is attributed to high raw material costs, adverse weather conditions, and illegal fishing practices. A significant drop in catches is due to poor weather, and there is skepticism about potential improvement during the summer season due to lack of scientific research since 2019. The industry is powerless to control weather conditions but can tackle illegal fishing to mitigate the crisis.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Catches have been scarce in Peru’s giant squid fishery, which, together with the related processing industry, is facing an unprecedented crisis due to high raw material costs, natural weather conditions, and illegal, unreported, and unregulated (IUU) fishing practices.“This is the worst crisis in the 25 years since squid began to be exploited in significant volumes in Peru,” Committee for the Sustainable Management of the Southern Pacific Jumbo Flying Squid (CALAMASUR) President Alfonso Miranda said in a release, estimating a 40 percent to 50 percent drop in value for 2024 and “an even steeper” fall in terms of volume.Catches have been primarily affected due to poor weather conditions, according to Miranda, who added that he was skeptical whether the upcoming summer season, and its improvement in weather, will bring about better catch totals.The forecasts ...

Source: Seafoodsource