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Japanese squid stocks hit a record low

Industry News
2019/07/29 19:44
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As the catch of most catfish fishing areas continues to be sluggish, Japanese catfish stocks at the end of May have fallen below 40,000 tons, a decrease of 7% compared with the previous month. This figure has reached a record low.
Compared with the same period of last year, Argentina and South Korea, the major exporters of squid in Japan, have significantly reduced their exports to Japan in the first half of this year.
The shortage of raw materials supply may seriously affect the processing and production of squid in Japan. The season should have been the peak season for salmon production, but the catch of salmon in the North Pacific and Japan is worrying. The benchmark stock of squid was about 100,000 tons about 10 years ago. In recent years, this standard has declined and is set at 70,000-80,000 tons. Even in the case of a decline in inventory standards, stocks below 40,000 tons in summer are still considered abnormal.
As of the end of May, the stock of common catfish species, including Argentine squid, was 17,226 tons, a decrease of more than 10,000 tons compared with 27,519 tons in 2015. In general, stocks in June and July will continue to fall, and the low catch will make the situation of low stocks more visible.
Due to the shortage of raw materials, squid processing enterprises are facing a situation of stagnant production and sluggish income. The Japanese Federation of Salmon Processing Enterprises plans to ask the government to expand import quotas to compensate for the shortage of salmon fishing in the country. This request has been verbally communicated to the fisheries sector and will be formally submitted to the government in the form of official documents in the short term.
On the surface, this year's consumption rate seems to be very low, but the relevant information shows that the procurement contract has actually been increasing. According to informed sources, if the overseas fishing situation has improved, the industry will consider handling the sudden demand orders.