SeafoodMedia released news on May 6 that the latest report from the Argentine Refrigerated Ship Industry Chamber (CAPECA) showed that Argentina’s fishery showed strong growth momentum in the first quarter of 2023. The total fishery export volume reached 137,000 tons, a year-on-year increase of 19%, while the export value increased to 515 million US dollars, a year-on-year increase of 10%. This significant growth was mainly due to a significant increase in squid exports, which surged 44% year-on-year.

In terms of hake exports, the average price reached US$3,313 per ton, a year-on-year increase of 1.5%, driving export earnings to increase by 21.7% year-on-year. In the first quarter, Argentina exported a total of 15,000 tons of hake.

As the main export market for Argentina's fisheries, Brazil accounts for half of the total export volume, with a year-on-year increase of 27%. Spain followed closely behind, with export volume increasing by 30.7% year-on-year, and the price per ton was US$3,142. Although the export volume of the US market is less than 1,000 tons, its export price is the highest, reaching US$3,489 per ton.

In terms of whole shrimp exports, the average selling price per ton in the first quarter was US$5,147, but the export volume decreased from last year to 7,648 tons, a year-on-year decrease of 6.2%. As a result, export value dropped to US$393.6 million, a decrease of 2.3%. Among them, whole shrimp exports to Spain increased significantly, reaching 56%. Although the price is slightly higher than in 2023, it is still below the average level. However, sales to Russia, China and Italy declined by 29%, 21% and 72% respectively.

Shrimp tail export revenue reached US$140 million, but export volume decreased by 27% to 19,000 tons. Despite this, the average export price remained at US$7,315 per ton, a year-on-year decrease of 2.2%. China is the main buyer of shrimp tails, but exports to it fell by 28% year-on-year, while exports to Peru increased by 24%.

Squid exports performed particularly well in the first quarter, with export volume reaching 75,578 tons and export value reaching US$188 million, a year-on-year increase of 44% and 18.4% respectively. The average export price is US$2,492 per ton. Squid exports to China increased significantly by 122.7%, and the export price was US$2,436 per ton, a year-on-year increase of 16.7%. Exports to South Korea decreased slightly by 3.6%, but its price per ton is US$100 lower than that of China.

It is worth noting that Singapore has become a potential new market for Argentine squid. In the first quarter, Argentina's squid exports to Singapore surged 416% to 13,528 tons, but the export price was relatively low at US$2,298 per ton. In contrast, the export price to Spain was as high as US$3,531 per ton, a year-on-year increase of 19%.

In addition, during the first quarter, the export volume of Pagotanian toothfish was 699 tons, and the average export price was as high as US$25,258. Among them, 354 tons were exported to the United States and 189 tons were exported to China. The export volume of crabs reached 958 tons, of which 319 tons went to the United States and 639 tons went to China.