Peruvian Squid Supply Suppresses Prices
Apr 14, 2026
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The squid market continues its weak trend, with a clear market theme: Southeast Pacific supply continues to increase, leading to further price declines; Southwest Atlantic off-line products remain generally stable; and Northwest Pacific and Indian Ocean prices remain unchanged. The attached chart shows that prices for the three main types of squid from the Southeast Pacific have slightly decreased, with whole squid products experiencing downward pressure and fluctuations, while carcass prices saw a more significant drop, becoming the most prominent price change this week.
This decline is primarily driven by increased supply. As of April 9th, Peruvian giant squid catches totaled 215,473.31 tons, fulfilling 70.55% of the quota for January to June. Resource conditions and operational efficiency are at a high level, driving continued production increases. High seas operations are also performing well, with an average daily catch of approximately 5 to 8 tons per vessel last week, and an average catch of approximately 450 to 500 tons per vessel since December 2025. The continued increase in supply, coupled with the concentrated arrival of imported catches in the previous period, has significantly increased inventory pressure, and the spot market's absorption capacity has not kept pace.
Demand response was lukewarm. Downstream procurement was cautious, with a strong wait-and-see attitude. Online transactions for squid from the Southeast Pacific totaled 1016 tons, indicating that while there were transactions, buyers preferred to replenish only as needed, unwilling to chase higher prices or expand inventory. This procurement pace directly suppressed price elasticity, making it difficult for the market to form effective support after supply increases.
Compared to the Southeast Pacific, the Southwest Atlantic squid market remained relatively stable. The overall price for Southwest Atlantic squid (outside of official channels) was basically unchanged from last week, with online transactions reaching 156 tons. Prices did not show significant easing, primarily because the supply-demand balance in this region is still better than in the Southeast Pacific. In Argentina, fishing has opened north of 44 degrees south latitude, with northbound fleets securing S, M, and L-sized squid, with individual vessel catches reaching 32 tons. Resources in the southern waters were also good, indicating a solid resource base this season. High seas operations were relatively normal, with an average daily catch of approximately 1-2 tons per vessel last week, and a cumulative average catch per vessel this season of approximately 150 tons. This is why the Argentine squid market hasn't experienced the same concentrated downward pressure as the Peruvian market. However, prices in the Weihai market have seen a slight decline, indicating that the foundation for price stability is being tested by the increase in new supply.
Other producing regions are currently playing a more stabilizing role. The overall price of squid from the Northwest Pacific remained unchanged this week, as did the price of squid from the Indian Ocean. The stable prices in these two major producing regions provide some buffer for the overall market, but are insufficient to change the reality of a downward shift in the market's center of gravity.
Looking at the trend in week 15, the most critical variable in the current squid market is still the Southeast Pacific. The continued high yields in Peru, concentrated arrivals of imported catches, and slow downstream procurement have combined to pull prices downward. Argentine squid can maintain relative stability for now, and there have been no significant fluctuations in the Northwest Pacific and Indian Ocean markets. However, with an overall ample supply of mainstream goods, it's difficult for the market to independently exhibit a strong upward trend. For domestic processing plants and traders, the more realistic strategy at this stage is not to bet on a rebound, but to control the pace of procurement, closely monitor inventory turnover and specification structure, and be especially wary of the chain reaction of continued market impact from low-priced goods from the Southeast Pacific.