According to statistics from the Ministry of Agriculture, Livestock and Fisheries of Argentina, the total output value of the Argentine seafood industry from January to October 2020 is approximately US$1.49 billion, a significant year-on-year decrease. However, the export performance of Argentine squid was very impressive. The total export volume from January to October reached 144,736 tons, an increase of 72%year-on-year, and the export value was US$386 million, an increase of 84%year-on-year.
From January to October, the export volume of Argentine red shrimp was 83,920 tons, down 23%year-on-year, and the export value was US$849 million, down 18%year-on-year. In June last year, due to the workers’ strike, the Argentine red shrimp production season was delayed, the production progress was delayed, and the output declined.
In addition, from January to October, the export volume of Hake from Argentina was 68,430 tons, down 14%year-on-year, and the export value was approximately US$177 million, down 22%year-on-year. Affected by the epidemic, the price of hake fell from $2,500/t to $2,200/t.
Beginning in the fourth quarter of last year, Argentina’s seafood export advantage has recovered. In October, the total export volume reached 50,303 tons, an increase of 14%year-on-year, and the export value reached US$213 million, an increase of 20%year-on-year. Among them, the export volume of Argentine red shrimp increased by 25%year-on-year to 25,500 tons, and the export value reached 164 million US dollars, an increase of 26%year-on-year. The export volume of hake reached 11,381 tons, a year-on-year increase of 12%, and the export value was US$239 million, a year-on-year increase of 2%.
In October last year, the export of Argentine squid increased significantly. The export volume soared 195%year-on-year to 1,828 tons, and the export value was about 56 million US dollars, an increase of 171%year-on-year.
China is Argentina’s third export market for marine products, behind Spain and Italy. From January to October 2020, China imported 101,108 tons of seafood from Argentina, accounting for about 24%of Argentina’s total exports.
The Argentine Ministry of Agriculture emphasized that seafood export trade will be normalized by the end of 2020, but the long-term impact of the new crown epidemic on the industry cannot be ignored.