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.
Peru's Ministry of Production said catches have been affected by poor climate conditions, and Miranda said he was skeptical whether catches will improve in the upcoming summer season.
Regardless of weather conditions, the state of the stock is hard to predict as forecasts for the fishery are not based on scientific management since there has not been a research cruise on the jumbo flying squid in Peruvian waters since 2019.
Though the industry can not do much about weather patterns, Miranda said, it can do something about IUU fishing in the fishery ...
