Institutional Reform Looms for Humboldt Squid Fishing in the Southeast Pacific

Three Latin American Nations Join Forces to Set Rules, While China Has Laid Groundwork Early On

In February 2026, under the framework of the South Pacific Regional Fisheries Management Organisation (SPRFMO), Peru, Chile, and Ecuador adopted a joint position to push for the establishment of annual precautionary catch limits for giant squid on the high seas of the Southeast Pacific. This marks a formal shift in the governance of high-seas giant squid from technical discussions to binding regulatory measures. As the largest fishing operator in the region, China’s distant-water squid fishing fleet will be the primary affected party once this mechanism takes effect, and the high-seas squid fishery stands at a critical turning point from open competition to total allowable catch control.

At the heart of the “precautionary catch limits” championed by the three Latin American countries is an annual cap on total squid catches in the Southeast Pacific high seas. Previously, no formal total allowable catch (TAC) system existed on the high seas, leaving an open framework that allowed fishing fleets from various countries to operate freely. China’s distant-water fleet has built strong operational intensity and scale advantages through years of development. If the cap is set below current overall fishing levels once implemented, fishing effort across the region will have to decline, with China — as the largest operator — bearing the brunt of adjustment pressure. The impact will go beyond merely restricting industry expansion; it may directly reduce existing fishing scale, with vessel utilization rates, fishing frequency, and overall production capacity all constrained by the new rules.

Notably, the push for catch limits is not merely a resource conservation measure, but also a realignment of dominance and interest structures in high-seas fisheries governance. In recent years, market prices for giant squid have continued to rise, expanding profit margins and significantly boosting resource value. Amid this upward price cycle, issues of resource allocation and fishing intensity have naturally become focal points of national policy attention. For coastal states such as Peru, Chile, and Ecuador, squid fishing within their exclusive economic zones is already regulated. However, the lack of total volume control on the high seas has intensified conflicts over resource use and benefit distribution. Advancing a multilateral catch limit mechanism is, in essence, a rebalancing of the regional squid resource allocation structure.

Well before international discussions on catch limits gained momentum, China had already taken the initiative to regulate high-seas squid fishing — with actions predating the multilateral mechanism proposed by the three Latin American nations, demonstrating its role as a responsible fishing power. Since 2020, China has implemented voluntary high-seas fishing bans in the Southeast Pacific and Southwest Atlantic to allow squid stocks to recover. In 2022, it further tightened controls by piloting vessel number caps across five major squid fishing grounds, clarifying that “in principle, the scale of high-seas squid jigging vessels will not be expanded,” while strictly controlling the annual cumulative number of operating vessels in each fishing area. In terms of institutional development, China has also actively promoted the implementation of electronic fishing logbooks and observer schemes, and explored quota-based fishing systems to refine and standardize high-seas squid fishery management.

On the international cooperation front, China has proactively participated in rule-making. It once submitted an amended proposal within the SPRFMO framework to limit fishing effort, recommending that the number of fishing vessels and total tonnage be included in management measures. Although the proposal was not adopted due to a lack of consensus among member states, these initiatives reflect China’s commitment to the sustainable use of global squid resources and its proactive stance in global marine fisheries governance.

If the “precautionary catch limits” are further institutionalized and even transition into formal quota systems, the high-seas squid fishery will fully enter a new era of fixed total catch volumes. In the previous era of open competition, core competitiveness lay in fishing scale and operational efficiency. In the new capped era, however, the allocation of fishing shares and the formulation of industry rules will determine the development space of each country. For China’s distant-water squid fleet, this institutional shift will alter its long-standing growth model. Its traditional scale advantages will be constrained by regulations, and its future focus will likely shift toward improving fishing efficiency, securing a stronger voice in international rule-making, and deepening the sustainable use of marine resources.

The discussions at this SPRFMO meeting carry significance far beyond a simple annual catch figure. They signal whether high-seas giant squid will formally enter an era of institutionalized management. At this critical juncture, China holds a unique dual role: it is one of the world’s earliest countries to regulate the scale of high-seas squid fishing, yet also the operator most affected by the new rules. Balancing compliance with international regulations, participation in resource conservation, protection of legitimate fisheries interests, and promotion of high-quality, sustainable industry transformation will become key priorities for China’s distant-water squid fishing sector. The future of the global squid fishery, in turn, will depend on whether countries can strike an optimal balance between resource conservation and equitable benefit-sharing, and build a fairer, more rational, and sustainable high-seas fisheries management system through international cooperation.

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