Argentina's fishing export numbers rise, but industry disputes structural improvement

Argentina's Economy Minister Luis Caputo announced a significant boost in fishing exports, stating they reached $867 million in the first four months of the year, a 32% increase in value and 28% in volume. He highlighted growth across various products like fresh fish, mollusks, and crustaceans, with the United States, China, Spain, and Brazil as key destinations.

However, the fishing industry offered a starkly different perspective. Business representatives told La Nación that the reported numbers reflect a temporary surge in squid availability, not a fundamental improvement in the sector. They pointed to persistent profitability problems, exacerbated by rising fuel costs, labor disputes, and export taxes ranging from 3% to 9%.

Eduardo Boiero, president of the Chamber of Shipowners of Fishing and Freezing Vessels of Argentina (Capeca), explained that the export "jump" is heavily tied to the Illex squid. "The government uses it as positive news, and I think that's fine. The reality is that, in the case of fishing, the increases are relative," Boiero said. He elaborated that more squid were caught in less time during the early months, leading to an earlier cessation of fishing. This, he argued, is due to natural resource availability influenced by environmental factors, not sector growth.

Data from Capeca, based on Indec statistics, shows total fishing exports at $905.7 million in the first quarter, a 38.3% increase. The Illex squid alone contributed $405 million, nearly 45% of the sector's foreign sales. While demand from China has increased, industry insiders emphasize that the core issue remains a cost structure making many segments of the fleet, particularly those in Mar del Plata, unviable.

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The Government uses it as positive news, and I think that's fine. The reality is that, in the case of fishing, the increases are relative, because what happened was that more squid were caught in less time during the first months and fishing stopped earlier. It is not a matter of sector growth, but of greater availability of a natural resource in the first months that depends on environmental factors.