The Squid Market Is Stable With Some Adjustments, While The Price Of Argentine Squid Falls Back

The overall Chinese squid market continued the volatile consolidation trend of the previous two weeks. Prices in the Southeast Pacific (Peruvian squid) remained stable, while prices in the Southwest Atlantic (Argentinian squid) showed a partial decline. Prices in other major production areas remained basically flat.

Supply expectations change after Peru's fishing ban

On the supply side, the Peruvian Ministry of Production officially issued a fishing ban on June 30, suspending all giant squid (Dosidicus gigas) fishing activities in its exclusive economic zone. Affected by multiple factors such as the suspension of fishing and shortage of factory raw materials, the industry expects that the price of Peruvian squid raw materials will face upward pressure in the short term.

When issuing an announcement, the Peruvian government emphasized that the fishing quota (304,000 tons) from January 2025 to date has been completed ahead of schedule. If overfishing is carried out, it will pose a risk to resource recovery and next year's fishing season. It requires all types of shipowners, fishermen and associations to jointly comply with the ban and cooperate with resource protection measures.

Prices in the Southwest Atlantic Ocean fall, supply and demand are temporarily unbalanced

Compared with the stable market in the Southeast Pacific Ocean, the market price of the Southwest Atlantic Ocean (Argentine squid) fell overall this week, showing certain adjustment pressure.

Despite this, the comprehensive market quotation shows that the expectations of both buyers and sellers have not changed significantly, and some downstream manufacturers are still waiting and watching. In the short term, the market may be in a state of supply and demand game.

According to the data of the Argentine Fisheries Planning Bureau (DPP), the total amount of Argentine squid landed in 2025 has reached 203,956 tons, an increase of 33% over the same period in 2024, setting a new high in nearly 30 years. On July 1, the voluntary fishing moratorium in the high seas of the Southwest Atlantic Ocean in my country was officially launched. Some ships have begun to transfer or return. The spot supply is expected to tighten in the later period, which may provide certain support for prices.

Market dynamics and outlook

In the Northwest Pacific and Indian Ocean regions, there were no new transaction records in the 27th week, and prices remained stable without significant external disturbances. In terms of domestic imports, the import volume of self-caught squid at Zhoushan Port has achieved a month-on-month increase for the second consecutive week. Although the total volume is still at a low level, it shows a positive recovery trend.

On July 3, the China Distant Water Fisheries Association held a policy dissemination meeting on regional fishery management in the South and North Pacific in Taiyuan, clearly requiring all companies to strictly implement the regulations of international fishery organizations and promote the development of distant-water fisheries in a standardized and sustainable direction. The meeting emphasized "obeying rules, bottom lines, achievements and interests", and hoped that all parties would coordinate and cooperate to ensure the stability and improvement of China's voice in global squid fishing.

Overall, the current Chinese squid market is in a stage of rebalancing supply and demand. Prices in the Southeast Pacific are stabilizing, while the Southwest Atlantic faces short-term adjustment pressure due to phased return shipments and increased imports. Looking ahead, if Peru and Argentina enter a medium- to long-term fishing ban, and my country's high seas fishing vessels simultaneously suspend fishing, the market may enter a new round of market fluctuations. Companies should pay close attention to production policies, fishing trends, and changes in port arrivals, formulate scientific procurement strategies, and seize market windows.