Week 25 | Squid Prices Adjust in Volatile Trading, Market Enters a Period of Choppy Bargaining!
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Squid Prices Adjust in Volatile Trading, Market Enters a Period of Choppy Bargaining!
From June 13 to June 19, 2025 (Week 25), China's domestic distant-water squid market overall maintained a volatile pattern, with prices in major ocean regions rising and falling in mixed directions. After the previous sharp decline, squid prices in the Southeast Pacific generally stabilized this week, with mainstream species showing limited fluctuation and a strong bargaining atmosphere in the market. Meanwhile, Peruvian authorities announced that the quota had been exhausted and emergency-terminated squid fishing activities, adding a variable to the stability of global market supply.
Southeast Pacific
Prices Stabilize, Main Species Trade Actively
This week, the average settlement price for Southeast Pacific squid was approximately 18,562 yuan/ton. Apart from pullbacks in certain specifications such as slices (-304 yuan/ton) and large whole tubes (-131 yuan/ton), prices for the remaining specifications were basically stable or edged up slightly. Among them, medium whole tubes rose 75 yuan/ton, and squid beaks rose 109 yuan/ton. Overall, the market is in a volatile adjustment range, with supply-demand bargaining intensifying.
In terms of volume, total traded volume this week was 5,530 tons, slightly narrower than last week. Extra-small whole tubes (2,096 tons) and small whole tubes (2,025 tons) remained the market mainstay, together accounting for more than 70%.
At the quotation level, composite quotations showed continued structural fluctuation: quotations for species such as large heads, small heads and ears fell 500-750 yuan/ton, while tail fins rose 1,350 yuan/ton, and quotations for small tubes and large whole tubes also rebounded slightly, indicating that inventory structure and actual demand effects are diverging.
Origin Dynamics
Peru Emergency-Terminates Fishing, Market Reacts Sharply
On June 20, Peru's Ministry of Production issued a decision that, because total squid catch had reached the upper limit of the 304,000-ton quota, squid fishing operations nationwide in Peru would stop from midnight on June 21. The policy has a direct impact on the current market, with local Peruvian prices fluctuating within the day and "one price a day" phenomena occurring frequently.
Domestically, distant-water fishing performance has been stable, with average production per vessel rising to 1,000-1,050 tons, becoming an important support for the current stable market supply.
Southwest Atlantic
Trading Shrinks, Prices Stable
In Week 25, Southwest Atlantic squid (offshore) traded only 100 tons, all in specifications below 300g, with an average settlement price of 34,830 yuan/ton, unchanged from last week. At the quotation level, specifications fluctuated slightly in mixed directions: some specifications such as <100g and 200-300g edged down, while others such as 400-600g and >600g edged up.
The squid fishing season in Argentina's exclusive economic zone officially ended on June 10, with total landings expected to exceed 200,000 tons. China's distant-water fleet has maintained high catch levels, with large trawlers producing about 1,600-1,700 tons per vessel and small trawlers averaging 850-900 tons.
Northwest Pacific and Indian Ocean
Light Trading, Prices Hold Steady
The Northwest Pacific traded 87 tons this week, with an average settlement price of 23,614 yuan/ton. The 500-1000g specification fell 850 yuan/ton, while quotations for other specifications were stable. The Indian Ocean market continued to see no transactions, with quotations for all specifications continuing to hold flat.
Zhoushan Customs Clearance Volume Declines
Market Enters a Plateau Consolidation Period
In Week 25, the customs clearance volume of distant-water self-caught squid at Zhoushan port declined month-on-month, and with the second quarter about to end, cumulative clearance volume for this quarter is expected to be lower than in the first quarter.
Market Observation
Prices Enter a "Plateau Period," Supply-Demand Standoff May Persist
Against the backdrop of ample current supply, processing plants generally press prices and purchase cautiously, while certain specifications with tight raw material inventories have seen structural rebounds, leaving overall market prices stuck in a "plateau period" standoff. Considering that the two major producing regions of Peru and Argentina have ended their fishing seasons, if supply from other fishing areas cannot fill the gap in time, subsequent price trends still hold uncertainties.
Industry players suggest that companies closely monitor fishing dynamics and export policies in major producing regions, reasonably control inventory structure, and avoid falling into a passive position during the bargaining period.
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