Argentina’s Illex squid fishery is showing solid and steady progress this season. As of early May, total landings had surpassed 150,000 metric tons, and while slightly below last year’s pace, the season remains highly productive.

This season stands out not just for its strong catch volumes, but for the shifting global dynamics driving demand. With ongoing shortfalls in competing squid fisheries such as Loligo in the Falkland Islands and Jumbo Flying/Humboldt squid in Peruvian waters, buyers across Europe and Asia are redirecting their demand toward Argentine Illex which has created upward pressure on prices, particularly for higher-grade and larger-sized product.

In contrast to the squid season, Argentina’s shrimp fishery shows mixed signals. Although the province of Chubut saw record inshore landings, the National Institute for Fisheries Research and Development warns of a 42% biomass drop in national waters attributed to early overfishing. This raises concerns over mid-to-late 2025 supply, especially for key export markets like Spain, Italy, China, and the U.S. where Argentine shrimp is prized for its wild origin and quality standards. The Argentine Red Shrimp fishery saw one of the lowest landings months in April and May in the last decade.



On the pricing front, exporters are already signaling firm-to-rising offers, especially for larger shrimp grades (L1 to L2), as forward supply risks are factored in. A squeeze on mid-year volumes could result in noticeable price escalations across multiple product formats—raw frozen, peeled, and HLSO.

In summary, Argentine Illex squid remains one of the most stable and reliable options in the global market, with strong catch volumes and rising demand driven by supply shortfalls in competing fisheries. Prices have already firmed since Q1 and are expected to climb further as inventories tighten. Argentine shrimp, on the other hand, faces a supply cliff as national biomass contracts. Early abundance is giving way to growing scarcity, with potential price volatility ahead.



Our recommendation is that seafood buyers act swiftly in securing any remaining early-season inventory of Argentine Red Shrimp. Although the summer typically yields high volumes of harvest, the likelihood of a national-level shortfall could be in the forecast. For Illex squid, although it currently offers a window for volume stability and price leverage, buyers should act before Q3 demand spikes.

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