Argentina's squid exports collapsed in May, and the whole trade picture followed

According to the latest official data from Argentina, the country’s aquatic‑product exports saw a notable pull‑back in May 2026. Exports of Illex squid, Argentina’s top‑exported seafood item, slumped sharply and weighed heavily on overall export performance for the month. Despite rising shipments of shrimp and hake, their growth failed to offset the decline in squid exports.

Statistics released by Argentina’s Secretariat of Agriculture, Livestock and Fisheries showed that in May 2026, Argentina exported 40,010 tons of aquatic products worth US$130.5 million, falling by 23.7% in volume and 20.2% in value year‑on‑year.

Illex squid remained Argentina’s largest‑volume seafood export in May but posted a marked downturn. Shipments totalled 13,870 tonnes valued at US$41.6 million, with export volume plunging 57.6% and export value dropping 55.3% compared with the same period a year earlier. Nevertheless, firm international market prices pushed up the average export price of squid by 5.3% year‑on‑year to US$2,999 per tonne, which somewhat cushioned the adverse impact of lower shipment volumes.

In contrast, Argentine red shrimp exports held up relatively well. Frozen‑shrimp exports reached 5,402 tonnes worth US$39.6 million in May, rising by 6.0% in volume and 9.1% in value year‑on‑year. The average export price climbed to US$7,336 per tonne, a 7.7% year‑on‑year increase, with higher prices for whole shrimp products serving as a key driver of value growth.

Hake exports maintained an upward momentum. In May, Argentina shipped out 13,195 tons of hake worth US$35 million, representing year‑on‑year rises of 30.2% in volume and 40.5% in value. Its average export price increased by 7.9% to US$2,655 per tonne, signalling steady global demand and favourable market prices.

In terms of export destinations, China remained Argentina’s top market for aquatic products. In May, Argentina exported 9,731 tons of seafood worth US$30.2 million to China, accounting for 23.1% of Argentina’s total aquatic‑product export value. Spain ranked second with US$27.7‑million‑worth imports, followed by Italy and Brazil at US$7.6 million and US$7 million respectively.

Notwithstanding the May‑month decline, Argentina’s aquatic‑product exports over the first five months of 2026 still registered overall growth. Official figures indicated that cumulative exports from January to May hit 291,894 tons valued at US$1.01 billion, growing by 18.2% by volume and 22.9% by value year‑on‑year. The higher year‑to‑date total suggests that May’s set‑back stemmed predominantly from the steep drop‑off in Illex‑squid shipments and did not reverse the overall growth trend this year.

From the perspective of export composition, Illex squid stands out as the decisive commodity shaping Argentina’s seafood‑export performance. The sharp fall‑off in squid shipments directly dragged down the country’s overall export volume, while shrimp and hake lent some support through increased shipments and higher prices. Diverging performances across different seafood varieties reflect that Argentina’s aquatic‑product exports are jointly affected by fishing‑stock conditions, domestic supply and shifts in

global market demand for each major species.

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