Giant Squid in High Demand,Prices May Rise in September

China Remains the Largest Buyer

   China remains the largest buyer of giant squid. Data shows that from January to June 2025, Peru exported a total of 183,000 tons of raw squid products, of which 104,000 tons went to China, accounting for 57.18%.

   According to Chinese customs data, in July 2025, China imported 77,500 tons of squid and octopus products, a year-on-year increase of 106%. The import value reached US$279 million, a significant year-on-year increase of 148%. Peru was China's largest supplier, exporting 42,200 tons worth US$147 million to China that month.

Price Changes in the Chinese Market

   Affected by supply fluctuations, wholesale squid prices in China remained low in August, but saw a slight increase in early September. According to statistics, in week 36 (September 1-7), the port transaction price of 1-2 kg giant squid was approximately 16,400 yuan/ton, up 400 yuan/ton from the end of August.

Chinese distant-water fishing vessels are performing strongly

   In addition to imports, Chinese distant-water fishing vessels are also actively participating in squid fishing in the Southeast Pacific. The Zhejiang Zhoushan International Agricultural Products Trading Center (ZZIATC) disclosed that since November 2024, several Chinese distant-water fishing vessels have moved to operate within 30 nautical miles of Peru's exclusive economic zone (EEZ), performing well, with an average catch of approximately 1,250 tons per vessel.

   ZZIATC stated that while Peru's additional quota will put some short-term pressure on market prices, domestic squid inventories are continuing to decline, and prices are expected to rise further in September.