Andina

Peru: Giant squid exports up 53.1% in Jan-May 2018

16:00 | Lima, Jul. 30.

Peruvian giant squid shipments reached US$301 million between January and May 2018, a 53.1% increase from the same period in 2017, the Association of Peruvian Exporters (Adex) reported Monday.

The increase in exported value is due to a higher price for this species.

The average price went from US$2,080 per metric ton (MT) between Jan-May 2017 to US$2,982 in the same period this year (+41%). There was also an 8.6% volume growth in the latter period

These figures help predict a continuous recovery in giant squid shipments, which —in 2014— totaled US$506 million, the highest amount in the last decade.

These figures declined to US$362 million (2015) and even dropped to US$327 million (2016).

However, said exports saw a recovery in 2017, thus leading to US$405 million, up by 24% from the previous year. Likewise, this trend is expected to remain in place.

Markets

Main target markets were Spain (US$71 million; +51%) and South Korea (US$69 million; +137%).

China, the main market for giant squid shipments in Jan-May 2017, holds the third place now. Other markets include Japan, Thailand, Italy, Mexico, Russia, and the United States.

(END) CNA/JAA/MVB

Published: 7/30/2018