May 6, 2020 — “Business has fallen off a cliff, for squid, and for every market that deals with restaurants,” says Chris Lee, of Sea Fresh USA, a supplier and processor in North Kingstown, R.I. “Every dockside processor is talking about coronavirus.”
While the year-round Northeast longfin squid fishery commercial harvest is used to fluctuation, the covid-19 pandemic is unparalleled.
“There’s always lots of uncertainty with squid availability and international demand/supply price effects. My understanding is that coronavirus-related restaurant shutdowns have had extreme immediate negative effects on domestic demand, and negative effects for exports are expected as well,” says Jason Didden of the Mid-Atlantic Fishery Management Council.
In the past decade, says Lee, most of his squid was sold domestically. But now, he says, “we haven’t just lost the U.S. market. I have containers of squid on the water that were going to Europe. Customers are already trying to renegotiate because those markets in Europe are not open, all their restaurants are closed.” If there is an upside right now, Lee adds, it’s China, where some markets are looking as if they are starting to reopen.