Argentine fisheries exports down by 8.4 percent in 2022; exchange rate policy hindered sales overseas

Argentine fisheries exports dropped 8,4% last year, to US$ 1,804bn because of lower prices and a retraction in demand from the main markets, according to Capeca, the Chamber of fishing vessels' annual report. Not to mention the Argentine monetary policy with the great exchange rate gap between the official US dollar price and the free market. Eduardo Boiero, Capeca president said that the fall in exports is “a combination of lower prices and lesser demand from the main international markets, mainly shrimp which in 2022 represented 52% of total exports value”. He added shrimp sales were down 23,5% and that of shrimp tails, 17,7%. “The distorted exchange rate policy which because of the slower nominal export price in dollars and the soaring inflation and its impact on dollar costs simply made the situation far worse, with significant losses for exporting companies, discouraging investment and contrary to the creation of jobs”. Nevertheless there were revenue increases in certain ...