Affected By The Easter Holiday, Giant Squid Raw Material Prices Experienced A Slight Decline

Peruvian Market

 Local prices in Peru range between 8.5-9 soles, compared to 9.5-10 soles last weekend.

 This price drop is not due to an increase in catch volumes but rather the impact of the local Easter holiday. As factories reduced their purchases during this period, fishermen had to sell at lower prices to return home early for the holiday. It is reported that the local Easter holiday runs from April 17 to 20. 

China Market

 Due to the rise in Giant squid raw material prices, current offer prices have increased slightly. Coupled with a minor correction in domestic whole round prices, factory procurement demand remains subdued, with most manufacturers adopting a cautious wait-and-see approach.

 Regarding whole round, Giant squid raw material prices had previously dropped to 5-6 soles, sparking optimistic market expectations. However, the subsequent rapid rebound has cast doubt on the delivery of already confirmed orders. At present, the exact shipment volume remains unclear, but based on the current market situation, we are not optimistic.

 Currently, market offers are relatively limited, mainly consisting of headed and gutted (H&G) and whole round. Further offers will depend on the raw material situation after the Easter holiday concludes.