Ample Supply Is Suppressing Prices, Pushing The Global Squid Market Into A Low Period

   In the fourth week of 2026, the domestic deep-sea squid market continued its weak overall trend, with significant divergence in performance among different species from different sea areas. Specifically, the price of squid from the Southeast Pacific (mainly Peruvian giant squid) continued to decline, becoming the core factor dragging down the overall market performance; while the price of squid from the Southwest Atlantic (Argentine slippery squid) and other species remained relatively stable, with some areas showing signs of stabilization and recovery.

   In the Southeast Pacific market, supply pressure was the direct cause of the price decline. Previously favorable sea conditions improved fishing efficiency, and the concentrated return of deep-sea fleets brought a large influx of new catches. Coupled with an increase in the annual catch quota, the market experienced a temporary supply easing. Only a small number of extra-small whole squid were traded in the Zhoushan market, with prices falling back to around 14,000 yuan/ton. The purchase price at the Peruvian port of Paita also weakened, with some falling to 0.80 new soles/kg, close to or even below the operating cost of fishing vessels. On the demand side, downstream processing enterprises only purchased as needed, providing weak support, and traders actively lowered prices to recover funds, further exacerbating the decline. High seas fishing remains intensive, with an average daily catch of approximately 4-8 tons per vessel. Although the Peruvian government has recently strengthened its regulation of high seas fishing, its short-term effect on reducing supply is limited. Simultaneously, the relaxation of catch limits for artisanal fishing vessels per voyage has improved quota utilization efficiency, consolidating the high supply situation in this region.

   In contrast, the Southwest Atlantic market is experiencing a different situation. The new Argentine squid fishing season has just begun, and prices have remained generally stable. The season has started smoothly, with 74 fishing vessels averaging 38 tons per vessel per day, significantly higher than the same period in previous years. As of late January, the cumulative unloading volume was approximately 25,000 tons. The fleet is mainly concentrated in the continental shelf waters between 44° and 46° south latitude, targeting summer spawning groups, where resources are abundant and operations are stable. Currently, the catch is relatively small (mainly S/SS, averaging about 158 ​​grams) and the flesh is thin, but the yield is guaranteed. The first batch of catches has been unloaded in Argentine ports, and export loading plans are gradually being initiated. Influenced by the recognition of new season resources, the price of Argentine squid in the Weihai market in China has seen a slight increase.

   Overall, the global squid market is currently characterized by a structure of "high supply in the Southeast Pacific suppressing prices, while steady increases in supply in the Southwest Atlantic providing support." The continued high yield of Peruvian giant squid is exerting long-term downward pressure on prices, while although the production of Argentine slippery squid has rebounded, the early stages of the fishing season are insufficient to change the overall supply and demand pattern. Given the high inventory and slow recovery in end-user demand, squid prices are expected to remain low, and the price differentiation between different sea areas and species may further intensify.