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The New Zealand squid fishery consists of two species of squid; Nototodarus gouldii and Nototodarus sloanii. Both species are found across the continental shelf in waters up to 500m in depth, though they are most commonly found in waters less than 300m in depth.
The majority of squid fishing activity takes place in the summer months from January through to May. The fishery is typically a low-value, high-volume fishery targeted by foreign vessels (Korean and Ukrainian predominantly) which are chartered by New Zealand companies
There are three commercial squid fisheries in New Zealand; a trawl fishery which covers most of the EEZ, a second trawl fishery that is located specifically around the Auckland Islands in the sub-Antarctic, and a squid jigging fishery that covers most of the EEZ. In recent years there has been a decline in the number of vessels fishing in the jig fishery and in 2008 only 3% of the SQU1J TACC (1371 tonnes) was harvested. In the same fishing year the total amount of squid harvested from the trawl fisheries was 56,000 tonnes, from a total allocation of 127,332 tonnes. Because squid abundance varies naturally there are some years when squid is abundant and some years when abundance is scarce.
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