Peruvian Squid Catch Reaches 30,000 Tons in Half A Month! Production May Be Due To End Soon, With Exports To China Increasing By A Staggering 670%

In mid-December, Peru's giant squid fishing industry once again became the focus of global attention. Since the Peruvian Ministry of Production announced the resumption of fishing with a supplementary quota of 38,859 tons in late November, the catch has reached 30,543 tons in just half a month, achieving a quota completion rate of 78.6%. Industry sources say that with production nearing its limit, Peru may end this round of fishing operations early next week to prevent overexploitation of resources.

Despite a recent southward shift in squid populations, the catch remains robust, with average squid weighing over 12 kilograms per fish. However, despite the high yield, prices have failed to hold firm. The average price of squid in south-central Peru has decreased by 8.6%–9.7% compared to the previous period, while prices in the north remain stable due to higher operating costs. Industry insiders generally expect that if fishing does indeed cease next week, prices may temporarily stabilize, but will remain under pressure in the medium to long term.

In the international market, Peruvian squid exports continue to lead the way. According to statistics from Peru's Ministry of Foreign Trade and Tourism (Mincetur), total fisheries exports reached US$4.116 billion in the first 10 months of 2025, a year-on-year increase of 25%. Squid exports surged by 255% in volume, setting a new record. Exports to the Chinese market, in particular, grew by a remarkable 670%, becoming a core engine driving bilateral trade.

Data from China's General Administration of Customs shows that imports of Peruvian squid (codes 03074310, 03074390, and 16055400) via general trade have seen a significant increase in both volume and value, indicating that China has firmly established itself as the largest buyer of Peruvian squid. Industry analysts believe that strong processing demand from China and the year-end restocking cycle are the main reasons for the surge in Peruvian exports.

Meanwhile, the domestic deep-sea squid market remains cautious under the dual pressures of high inventory and weak demand, with prices temporarily flat. Prices for frozen squid products in the Shidao area, such as squid ear strips, squid flowers, and gear-shaped squid, have declined, showing weakness; while cooked squid products from Longkou remain stable.

Overall, the divergence between the surge in Peruvian production and exports and the decline in prices highlights the supply-demand imbalance in the global squid market. If Peru were to stop fishing earlier than planned, it might provide temporary support for prices at the end of the year; however, in the long term, the loose supply situation is unlikely to change, and the squid market may continue to fluctuate at low levels in the first half of 2026.