Argentina May Start Squid Fishing Season Early, Global Squid Prices May Face New Year's Shock

In mid-November 2025, a major development emerged in the Argentine squid industry-the Argentine Squid Fishing Vessel Owners Association (CAPA) formally submitted an application to the Federal Fisheries Commission, proposing to start the 2026 squid fishing season in the waters south of 44°S latitude on January 6th. If approved, this proposal would make Argentina the first major squid producing country in the world to start its fishing season at the beginning of the new year, inevitably having a direct impact on global market prices.

According to Argentine Secretariat of Agriculture, Livestock and Fisheries (SAGPyA) Resolution 937/97, ​​the original start date for the squid fishing season was February 1st. However, in its application, CAPA pointed out that monitoring data from the National Institute for Fisheries Research and Development (INIDEP) in recent years shows that the South Patagonian Squab (SSP) population begins its concentrated migration in early January.

Starting the season earlier could improve fishing efficiency and alleviate the pressure of later-season congestion. The association also emphasized that while the overall resource situation in the 49°–52°S latitude region for the 2025 fishing season is "generally acceptable," it has not yet reached its peak, and earlier fishing could help extend the effective operating period and improve the yield structure.

The Federal Fisheries Commission has accepted the application and transferred it to INIDEP for scientific evaluation. The institute will provide expert opinions based on the squid's maturity, biomass, and reproductive status to determine whether conditions for an early fishing season are met. Industry experts generally believe that if INIDEP provides a positive assessment and approval is granted, the Argentine fleet could set sail as early as the beginning of January 2026, nearly a month earlier than usual.

The impact of this adjustment on the global market should not be underestimated. Argentina is the world's second-largest exporter of squid, with its squid (Illex argentinus) mainly sold to markets such as China, Spain, and South Korea. If the fishing season opens earlier, domestic ports are expected to see the first wave of Argentine squid arrivals starting in February, inevitably increasing market supply and thus driving down prices. Considering that the Chinese market is still in a high inventory state this year, an earlier release of supply may further delay the price recovery cycle, putting the market at risk of a "double dip" at the beginning of the year.

Meanwhile, the early start to the fishing season could also have a ripple effect on the Peruvian squid market. Peruvian giant squid (Dosidicus gigas) has already achieved a record yield of 600,000 tons this year. If Argentine resources enter the market earlier, the two major producing regions of the South Pacific and South Atlantic will experience a "supply overlap" in the first quarter, potentially causing a further decline in global prices for medium and large-sized squid.

While an early start to the fishing season benefits ship owners by increasing their fishing time and export window, some experts warn that economic benefits should be weighed against ecological risks. Operating prematurely while resources are still in their breeding season could impact future squid populations. The final decision still depends on INIDEP's scientific assessment and government approval.

It is foreseeable that if Argentina opens its squid fishing season in January, the global squid market will enter a period of volatility ahead of schedule. For Chinese importers and processors, the first half of 2026 may present a window of opportunity with low prices and high supply, but they also need to be wary of inventory and financial risks brought about by declining prices.