Worldwide demand for squid has increased due to its high nutritional content. As a food source, squid is a vital source of protein, high vitamin, and mineral content and healthy fats. The unique biology of Squid Market requires a different management approach than other fisheries. Squid Market exhibit very fast growth and short life spans. Squid play an essential role as a mid-tropic level species, in which they transfer energy to the food chain.
Healthy eating trends and growing health awareness increases the demand for fish and seafood. The potential impacts of climate change inshore squid and rising squid prices are the main hurdles to this market. According to Renub Research, Global Squid Market will be more than US$ 11.6 Billion by the end of year 2025.
The world market size of squid mainly focuses on key regions like the United States, European Union, China, Japan, Korea, India, and Southeast Asia. The boom in squid will have interesting consequences both for their ecosystem and for human society. Spain was the fourth largest importer of squid in the world. Spain not only has the largest Squid processing industry in Europe but also has a high per capita consumption and a high per capita expenditure on Squid products.
Asian countries continued to demand more squid and could divert supplies globally. China and Japan are the leading importers in the Asian region, and they are looking for other squid suppliers. Imports of Squid by the world's nations have also increased dramatically, and total imports of squid is increasing year on year with Indonesia, Spain, and the United States of America are the leading suppliers. Consequently, squid supplies may be very tight in the coming years due to high prices.
Frozen squid is popular in southern European markets such as Spain and Italy. Imports are dominated by prepaid squid and almost every market in South East Asia has increased its imports in recent years. Major shares of domestic landings in Japan, China, South Korea, Malaysia and Taiwan are also marketed locally as fresh, mainly squid products.
Renub Research report titled “Global Squid Market By Import (Spain, Japan, Italy, China, Republic of Korea, Others), Export (China, India, Spain, Peru, Thailand, Other Countries) Production, Consumption, Products (Fresh, Frozen & Prepared), Value Chain Analysis & Forecast” provides a complete analysis of global Squid market.
Request a free sample copy of the report
Other Media | The Fishing Daily: French Minister Urges Dialogue Over UK Expansion of Marine Protected Areas
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FRANCE
Friday, March 29, 2024
French Minister Hervé Berville has called for dialogue between the European Commission and the United Kingdom regarding recent decisions to expand marine protected areas (MPAs), which impact French fishing vessels’ activities in certain zones.
Speaking during the informal meeting of the Council of Fisheries Ministers of the European Union, Minister Berville emphasised the need for swift engagement between the Commission and London in response to the fishing ban imposed by the UK.
The French Minister warned the meeting, ”The Commission must enter into dialogue with London as soon as possible.”
While unable to attend the informal Council held in Bruges due to travel commitments in French Guiana, Secretary of State for the Sea and Biodiversity, Hervé Berville, voiced concerns over the fishing restrictions announced by the UK government.[continues...]
Author: Oliver McBride / The Fishing Daily
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IN BRIEF - At WTO, Australia seeks details on India's fisheries plan
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AUSTRALIA
Thursday, March 28, 2024
Australia has sought details of India's fisheries programmes such as the policy objective, budget expenditure and coverage. At a meeting at the World Trade Organization (WTO) on Tuesday, it also asked if there are performance requirements such as export or production-based targets attached to payments or loans under the Pradhan Mantri Matsya Sampada Yojana (PMMSY).
Besides the duration of the programme, it wants details on the background, authority, forms of subsidies, policy objective or purpose and a confirmation whether the PMMSY supersedes the Blue Revolution: Integrated Development and Management of Fisheries. The questions were raised after the WTO members failed to reach an agreement on fisheries subsidies at the 13th ministerial conference in Abu Dhabi last month.
Click photo to know about PMMSY
Australia sought confirmation on whether one of the objectives of PMMSY in relation to marine fishing is especially to harness tuna resources both in India's exclusive economic zone (EEZ) and the high seas. EEZs are areas up to 200 nautical miles from the shore and beyond that are the high seas. "Australia wants to know the coverage of this fisheries plan and if it covers aquaculture as well as marine capture fishing," said an official, who did not wish to be identified.
Another set of questions raised by Australia relates to India's programme on conversion of trawlers into resource specific deep-sea fishing vessels.[...]
Author/Source: Kirtika Suneja / ET Bureau
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IN BRIEF - Cromaris business results in 2023
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CROATIA
Thursday, March 28, 2024
According to the unaudited consolidated reports for Q4 of 2023, Cromaris achieved a significant milestone, generating revenue of €105 million from the sales of goods and services, marking a remarkable 10% increase compared to the previous year, and our sales volume reached 13,610 tons of fresh fish equivalent.
Maintaining our strong presence in international markets, we continue to excel with 88% of our sales volume and revenue coming from overseas markets.
Diving into our diversified product portfolio, which accounted for 36% of our revenue in 2023, processed products, including packaged and gutted fish, saw the most significant surge in growth.
Despite facing challenges such as increased prices in key procurement categories, notably fish feed, our operational performance remains strong. Our EBITDA reached €12.6 million, showcasing a 15% increase and our net profit of €3.8 million in 2023, marked an impressive 57% growth.
Source: Cromaris PR
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IN BRIEF - Thrilling progress in PNG fisheries sector
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PAPUA NEW GUINEA
Thursday, March 28, 2024
The National Fisheries Authority (NFA) of Papua New Guinea (PNG) has announced significant advancements in the country's fisheries sector.
NFA has set ambitious targets to increase export values across various seafood categories, including crab, prawn, lobster, reef fish, and seaweed. Notably, a focus is placed on enhancing the tuna fishery.
This involves increasing tuna landings, expanding downstream processing, establishing new processing plants, and investing in commercial-scale cold storage facilities to support exports.
NFA Managing Director Justin Ilakini expressed his enthusiasm stating, "These initiatives will not only drive economic growth but also ensure food security and support the livelihoods of our communities. We are excited to have our dedicated staff on board, committed to making these goals a reality through their hard work and tireless efforts."
Embarking on a transformative policy shift, NFA aims to boost competitiveness, diversification, and value addition in the industry.
Despite challenges, NFA has implemented cost management measures and expenditure controls for the fiscal year 2024, emphasizing financial responsibility and prudent decision-making at all levels.
In the spirit of Easter, NFA extends warm greetings to all its staff and everyone. "May this season of reflection and renewal bring you joy, peace, and blessings as we celebrate the resurrection of our Lord, Jesus Christ," said Ilakini.
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IN BRIEF - Marine protected areas safeguard more than ecology – they bring economic benefits to fisheries and tourism
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NORWAY
Thursday, March 28, 2024
Marine Protected Areas (MPAs) have been used as a conservation measure for decades, but critics continue to argue that evidence of their economic benefits is weak, particularly with regard to fisheries.
Given the challenges in establishing MPAs, including objections from fisheries and the frequently small size and sub-optimal location of protected areas, one would expect their economic benefits to be hard to detect.
My new study reviews 81 publications about MPAs in 37 countries. It shows their establishment has resulted in benefits to commercial fisheries in 25 countries and to tourism in 24. These benefits covered a diversity of ecosystems, including coral reefs, kelp forests, mangroves, rocky reefs, salt marshes, mudflats and sandy seabed habitats.
There were 46 examples of economic benefits to fisheries adjacent to a marine protected area. These include increased fish stocks and catch volumes, higher reproduction and larval “spillover” to fisheries outside the MPA. Other studies also reported larger fish and lobsters close to existing MPAs.
Despite claims in the research literature of fishery displacement due to the establishment of an MPA, it seems the benefits outweigh any temporary disruption of fishing activities.[continue...]
Author: Mark John Costello
Professor, Faculty of Biosciences and Aquaculture, Nord University | nationaltribune.com.au
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IN BRIEF - Forestry, Fisheries and the Environment on Biodiversity Economy and Investment Indaba
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SOUTH AFRICA
Thursday, March 28, 2024
The Minister of Forestry, Fisheries and the Environment, Ms Barbara Creecy, would like to thank all the stakeholders for their invaluable contributions to the National Biodiversity Economy Strategy received during the Biodiversity Economy and Investment Indaba.
Working together, stakeholders developed a programme of action to address the challenges in the biodiversity sector. They identified key interventions which include sourcing financial support, gaining access to land for biodiversity projects, sourcing human capital development and scientific support, research, and securing market access for their products.
“Participants emphasised that an effective biodiversity economy must be based on growing and sustaining conservation land and seascapes that can sustain both non-consumptive and consumptive uses,” said Minister of Forestry, Fisheries and the Environment Ms Barbara Creecy.
“Participants also argued that there are diverse successful approaches and enterprises associated with the biodiversity economy, many of which leverage value from otherwise marginal production land- and seascapes, and this diversity enhances ecological resilience and offers further potential for growth” the Minister added.
In the South African context, many participants said that the Biodiversity Sector as a whole urgently requires transformation.[...]
Source: South African Government
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Other Media | fishfarmingexpert: £100m-a-year in Scottish salmon exports 'lost because of Brexit'
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UNITED KINGDOM
Thursday, March 28, 2024
Brexit has cost Scotland up to £100 million-a-year in ‘lost’ salmon exports, MSPs will hear from trade body Salmon Scotland’s chief executive Tavish Scott today.
Farming companies have faced increased red tape and costs triggered by the departure from the EU in January 2020. In 2019, there were more than 53,000 tonnes of Scottish salmon exported to the bloc, with the figure falling to 44,000 tonnes in 2023.
Source: fishfarmingexpert l Read the full article here
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Other Media | SeafoodSource: Blue Marine Foundation sues UK government for enabling overfishing
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UNITED KINGDOM
Thursday, March 28, 2024
Marine conservation NGO Blue Marine Foundation has taken legal action against the U.K. government, claiming it has breached its own laws by repeatedly setting fishing quotas for more than half of U.K. stocks at levels higher than those guided by scientific advice.
The London, U.K.-based NGO is arguing that the government’s mismanagement of fish stocks is an irresponsible use of national assets and runs counter to the interests of the nation’s fishermen. The organization is also warning this overfishing will lead to the depletion of key species such as mackerel, Celtic Sea cod, monkfish, and Irish Sea whiting.
Author: Jason Holland / SeafoodSource l Read the full article here
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Other Media | Ind Pesqueras: Argentina confirms a fine of more than 60,300 euros to Prodesur SA after the 'historic seizure' of almost 139 tons
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ARGENTINA
Thursday, March 28, 2024
Prodesur SA is responsible for the "Tai-An" vessel, which was reported for illegal fishing
The Government of Argentina, through the Undersecretariat of Fisheries, confirmed a fine of more than 56 million pesos (60,300 euros) to the company Prodesur S.A., responsible for the "Tai-An" vessel, after the "historic confiscation" of nearly 139 tons of illegally caught toothfish, a commodity worth 2.5 billion pesos (more than 2.6 million euros).
Several companies reported that the vessel was illegally capturing toothfish.
Source: Industrias Pesqueras l Read the full article here
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