July 12, 2018 — A global slump in the catch of squid — that has caused alarm bells as prices for key commercial species rocket — is bringing some of the biggest industry players together in an effort to improve squid fisheries management. But significant obstacles stand in their way, with China’s role front and center.
In recent years squid has become an increasingly important commercial species. According to the Food and Agriculture Organization of the United Nations (FAO), global squid catch has increased from 3.09 million metric tons in 2000, to 3.95m metric tons in 2015.
Squid previously discarded as worthless bycatch is now the target of international fleets.
But in 2016, global catch fell by over a million metric tons, to 2.79m metric tons (see graph below). Prices of Argentine shortfin squid, a key benchmark, have more than doubled. This season’s Argentine squid catch in international waters is said to be half last year’s levels, or worse.
Speaking to Undercurrent News, Sam Grimley, director of strategic initiatives at Sustainable Fisheries Partnership (SFP), an NGO, said concerns have mobilized industry stakeholders to come together to find solutions. Today, several fisheries improvement projects (FIP) are now underway or in the pipeline; five years ago, bar a couple in North America, there were none.