Peruvian Squid Prices Have Begun To Fall, And Chinese Market Buyers Are Becoming More Cautious

In the 14th week (March 30th – April 5th), the Chinese squid market showed a divergent trend. Peruvian giant squid prices reversed their previous upward trend and began to decline, while Argentine squid prices remained stable, with market operations becoming noticeably more conservative.

Data shows that as of April 2nd, the price of 1-2 kg Peruvian giant squid fillets fell week-on-week. The previous weeks of continuous increases were interrupted, and the market entered a period of adjustment. The direct reason for the price decline was the expected increase in supply coupled with a slowdown in end-user procurement.

The supply side is moving rapidly. The Peruvian Ministry of Production has set the giant squid quota for January-June 2026 at 305,417 tons. As of March 30th, cumulative production reached 189,182 tons, accounting for 61.94% of the quota. The pace of fishing accelerated significantly in March, and the market is anticipating further supply releases.

Demand-side operations are becoming more cautious. The Zhoushan International Agricultural Products Trade Center in Zhejiang reports that processing enterprises are generally adopting a "just-in-time purchasing and inventory control" strategy to mitigate operational risks from price fluctuations. Current end-user absorption capacity has not shown a significant improvement, making inventory management a core focus for enterprises.

The market is also paying attention to changes in climate factors. The potential development of a new El Niño is being considered, and its future impact on squid resource distribution and fishing schedules remains uncertain.

Regarding Argentine squid, prices are relatively stable. Prices for 200-300 gram squid remain unchanged from last week. Supply provides strong support. After a brief decline in early March, Argentine fleet production has recovered in the past one to two weeks, with daily output per vessel rising to approximately 35 tons.

As of the end of March, Argentina's cumulative squid catch reached 156,813.9 tons, the highest level for the same period in nearly two years. The strong resource performance is attributed to stable summer spawning populations and strict enforcement of fisheries regulations. No illegal fishing has been recorded this season.

Regarding the assessment of new fishing grounds, the Argentine National Institute for Fisheries Research and Development launched a five-day scientific survey on March 27th in waters north of 44°S to determine whether conditions are suitable for further opening of fishing areas.

The current market exhibits a "different pace" between two types of South American squid: increased expected supplies from Peru have led to a price correction, while the stable release of Argentine resources has resulted in no price fluctuations. Tightened procurement strategies by processors have become a significant variable influencing short-term market trends.