Peru's Squid Fishery Emergency Fully Halted, Quota Reduced to Zero, Market Prices May Face New Fluctuations!
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Peru's Squid Fishery Emergency Fully Halted, Quota Reduced to Zero, Market Prices May Face New Fluctuations!
On June 20, 2025, the Peruvian government officially announced that, effective from midnight of that day, all fishing activities for the Peruvian squid (Dosidicus gigas) resource nationwide would be fully terminated.
According to the latest director-general resolution issued by Peru's Ministry of Production, the maximum allowable total catch for Peruvian squid in 2025 had recently reached the legal cap of 304,209 tonnes, triggering the termination mechanism. This cap was originally planned to be implemented in phases before August 31, 2025, and would have ended automatically on that date if not fully caught earlier. However, due to the recent sharp acceleration in fishing speed, the competent authority submitted a report on June 20 recommending immediate termination of fishing to safeguard the sustainability of fishery resources.
Fishing Termination Order Officially Takes Effect
According to the content of Report No. 00000035 - 2025 - PRODUCE/DSF - PA - eramirez issued by the Supervision and Inspection Directorate of Peru's Ministry of Production, squid fishing has now fully reached the limit, and therefore emergency resource protection measures must be taken. In accordance with Ministerial Resolution No. 00193-2025-PRODUCE, the Ministry of Production decided:
Effective from 00:00 on June 21, 2025, all fishing activities for the Peruvian squid resource shall be fully suspended.
Unloading Channels Remain Temporarily Open
It should be noted that although all fishing operations have been suspended, vessels that had obtained departure permits and set out to sea before the termination took effect may still complete the unloading process in accordance with the law. This means the market will still see some existing squid stocks arriving at ports in the short term, but the overall supply chain has been urgently put on "pause."
Background Review: Cap Reached After Several Quota Increases
The original annual fishing quota for Peruvian squid was 190,000 tonnes, subsequently raised to 290,000 tonnes in May, and raised again to 304,209 tonnes on June 2. This was a phased adjustment made by the Peruvian government based on the recovery trend of squid resources, market export demand, and feedback from fishermen.
However, after the peak fishing season arrived, fleets across regions concentrated their operations and unloading surged, causing the limit to be quickly "zeroed out," and regulators ultimately decided to bring it to an emergency close.
Market Impact Under Continued Observation
Peru is one of the most important exporting countries of jumbo flying squid (Dosidicus gigas) in the world. The early termination of this fishing season is expected to have a direct impact on the supply and demand dynamics of the global squid market, especially in major importing countries such as China, South Korea, and Spain. The subsequent market conditions, raw material inventories, and price changes deserve close attention from the entire industry chain.
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