Squid Prices Reached High Levels

The global squid market is entering a new adjustment phase.

   Peruvian squid prices remain high, and Argentine squid resources are entering the final stages of the season, but the pace of procurement in the Chinese market has slowed significantly. After several weeks of continuous increases, domestic processing plants have begun to decline their acceptance of high-priced raw materials, and the market is gradually showing a state of "firm quotes, weaker transactions." In the 20th week of 2026 (May 8-14), squid prices in the Southeast Pacific continued to fluctuate at high levels.

The core of the changing market sentiment stems from supply expectations.

   As of May 14, Peruvian squid unloading reached a cumulative total of 343,239.99 tons, completing 92.49% of the annual quota from January to August. Although Peru previously increased its annual quota and extended the fishing season to the end of August, the remaining available quota has significantly decreased. As the quota gradually nears its end, market concerns about the subsequent supply of raw materials are increasing.

While Peruvian squid prices remain high, the Argentine squid market has begun to see a correction.

   The 2026 Argentine squid fishing season ended on April 22nd. As of May 7th, the total catch for the season reached 186,992.3 tons. Although lower than the 203,956 tons in 2025, this is still a high figure in the past 17 years. Currently, operations in the Southwest Atlantic high seas have largely concluded, with most vessels having moved to the Southeast Pacific or returned home. The average catch per vessel this season was approximately 150-200 tons. This indicates that global deep-sea squid fishing fleets are refocusing on the Peruvian squid fishing grounds.