Peruvian squid fishing resumes, market prices may continue to decline

Core tip: After undergoing multiple rounds of dynamic adjustments, Peru's Ministry of Production announced that starting from November 22, it will reopen the fishing activities for giant squid (Dosidicus gigas). This means that Peru's squid industry will face its seventh quota adjustment in 2025, with the annual catch exceeding 620,000 tons, far surpassing the previously set upper limit of 609,000 tons.

According to the latest announcement from Peru's Ministry of Production, the resumption of fishing differs from previous phased authorizations, with no specific fishing quotas or time periods set. The authorities stated that this decision is based on recent scientific data and ecological monitoring results provided by the Peruvian Marine Research Institute (IMARPE), aiming to balance sustainable resource use with the production needs of fishermen. Deputy Minister Jesús Barrientos emphasized that the government will continue to dynamically adjust the fishing pace through real-time monitoring of the marine environment, biomass, and resource changes to ensure the long-term sustainable development of fishery resources. In fact, since the beginning of 2025, the quota for giant squid in Peru has been increased multiple times—from the initial 55.9 thousand tons to 60.9 thousand tons, and now the actual catch volume has exceeded 62 thousand tons. In the latest ministerial resolution No. ...