Peruvian Squid Prices Have Risen Again, And The Chinese Market Is Starting To Worry About Raw Material Costs in The Second Half Of The Year.

The Chinese squid market is entering a new round of raw material shortages.

 

In the 20th week of 2026, Peruvian squid prices continued to rise. Domestic wholesale market data shows that the price of 1-2 kg Peruvian squid fillets increased weekly. In contrast, Argentine squid prices have not followed suit, with 200-300 gram fillets remaining stable.

While the market appears to be showing different trends for the two varieties, this reflects a shift in global squid resources and the deep-sea fishing landscape.

 

Peru has already entered the "second half" of its quota this year.

 

Although the Peruvian government previously increased the total squid quota for 2026 to 371,100 tons and extended the fishing season to the end of August, the harvesting speed is significantly faster than market expectations. As of May 11, Peru's cumulative unloading volume had reached 327,500 tons, accounting for over 88% of the annual quota.

 

In other words, the remaining quota is less than 45,000 tons.

 

This figure has a direct impact on the Chinese market. China remains one of the world's largest processing and consuming markets for Peruvian squid, and a large amount of raw materials ultimately enters China's frozen processing system.

 

Currently, the biggest concern for domestic processing companies is not whether there is any stock available now, but how much additional raw material can be added in the coming months.

 

Especially after the simultaneous tightening of quotas for China's ocean-going fleet, the market has begun to show caution regarding supply in the second half of the year.

 

This year, China continues to implement total volume control on squid resources in the high seas of the Southeast Pacific. From April to December, the total quota for Chinese ocean-going squid fishing vessels is 281,000 tons, with the maximum number of vessels remaining at 570.

 

Another set of more crucial data comes from the South Pacific Regional Fisheries Management Organization (SPRFMO).

In 2026, the SPRFMO allocates an annual Peruvian squid quota of 548,100 tons to China. This means that China remains the world's largest high seas squid fishing force, but regulation is becoming increasingly stringent.

 

Market sources revealed that in the first quarter of this year, the cumulative output of China's ocean-going fleet has already approached 200,000 tons. Entering the second quarter, the amount of quota available per ship decreased significantly.

 

This shift has begun to influence the operational direction of fishing fleets.

 

Due to weakening fishing conditions in the high seas of the Southwest Atlantic, many Chinese squid fishing vessels have recently begun to leave the waters off Argentina and return to the Eastern Pacific. Some ship owners report a significant decrease in resource density in Argentine high seas, with an increasing number of consecutive periods of low catches, making it difficult for some vessels to maintain ideal operational efficiency.

 

The Argentine squid market is also entering a seasonal transition phase.

 

The fishing season within Argentina's Exclusive Economic Zone for this year has ended, with a cumulative catch of 187,000 tons. Although lower than last year, this is still among the highest levels in the past decade.

 

The real factor affecting the market is not total production, but rather the size of the squid.

 

Currently, the supply of small to medium-sized Argentine squid circulating in the Chinese market remains plentiful, but sizes exceeding 300 grams are significantly decreasing. Some processing plants report increasing difficulty in replenishing larger-sized raw materials.

 

This explains why, although Argentine squid prices have not continued to rise recently, market quotations remain high.

 

A growing trend in the global squid market is that while the total resource volume may not have decreased significantly, high-quality squid, stable supply, and sustainable fishing capacity are becoming increasingly scarce.

 

The price increase of Peruvian squid essentially reflects a repricing of future supply patterns in the market.

 

The temporary stability of Argentine squid prices is largely due to the substantial price increases already seen, with the market awaiting a new round of raw material changes.