Positive trend in certain cephalopod stocks

Cephalopod stocks have grown over the past five decades. According to a researcher at the Institute of Marine Research in Spain, global warming may have benefited cephalopods stocks as temperature changes and the disappearance of certain upwellings have forced some predator species away from cephalopod habitats.

In China cephalopod landings were expected to decline in 2016 due to poor squid catches. Forecasts show that production from overseas fishing operations will drop dramatically, from 879 000 tonnes in 2014, to an estimated 450 000 tonnes in 2016. One would expect that this dramatic fall in domestic and overseas fishing operations would lead to increased imports, but this is not thought to be the case due to the lack of low-priced raw materials available. Cephalopod imports are expected to drop from 635 000 tonnes in 2015 to approximately 510 000 tonnes in 2016. Consequently, China's processing industry had a lack of raw material in 2016, and thus cephalopod prices, mostly for squid, were expected to rise dramatically on the Chinese market.

El Niño affected squid landings in Chile and Peru significantly in 2016 during the winter and spring. As a consequence of poor catches, prices of squid have risen by up to 30 percent in these countries. Argentina has also had a terrible squid season, although this is part of a longer-term trend. In 2016 landings dropped for the third year in a row. Comparing only the first four months of 2016 and 2015, landings fell by 57.6 percent, from 75 200 tonnes to just 31 900 tonnes. Due to the very tight supply situation, prices were up by 29 percent, so that the total sales value dropped by 32.2 percent, a significant reduction.

Spanish imports of squid increased from almost all suppliers bar the main one, the Falkland Islands,

Spain registers growth in squid imports

Squid imports into Spain during the first half of 2016 increased by 5.9 percent to 52 400 tonnes. Though there were reduced amounts being shipped by the main supplier, the Falkland Islands (Malvinas) by -19 percent, the second largest supplier, India, shipped 11 500 tonnes, up by 46 percent compared with the same period in 2015. Of the other important suppliers, Morocco, China, the USA and New Zealand all increased exports of squid to Spain during the review period.

Japan saw a decline in imports of squid during the first half of 2016, from 38 200 tonnes in 2015 to 34 500 tonnes in 2016 (-9.7 percent). All of the major suppliers to Japan shipped less squid during this period. China, which still accounts for about half of Japanese squid imports, reduced shipments by almost 6 percent to 17 400. Chile and Peru reduced shipments of squid to Japan by 19 percent and 37 percent respectively.

US imports of squid seem to be relatively stable. During the first six months of 2016, the USA imported 33 400 tonnes of squid compared with 33 500 tonnes during the same period in 2015. However, looking at developments over the past three to four years, US squid imports have been rising. In 2015, total US squid imports amounted to 72 150 tonnes compared with 66 500 tonnes in 2010.

FAO GLOBEFISH. The report analyses the squid market situation over the period January-October 2016