Week 26 | Squid Harvesting Wraps Up in Two Major Production Regions, Price "Sideways Fluctuation" May Become the Main Theme!
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Week 26 | Squid Harvesting in Two Major Production Regions Nears Its End, Price "Sideways Fluctuation" May Become the Main Theme!
In Week 26 of 2025 (June 20 to June 27), monitoring data from the Zhejiang Zhoushan International Agricultural Products Trade Center show that the global squid market continued the volatile consolidation trend of Week 25, with prices of major varieties fluctuating within a narrow range and trading volume rising slightly. As the two major exclusive economic zones (EEZs) of Peru and Argentina successively enter the fishing ban and closed-season stages, both the market supply structure and price expectations face reconstruction.
[Southeast Pacific (Peruvian squid)]
Price consolidation, some specifications recovering slightly
In Week 26, the average settlement price of Southeast Pacific squid at the Zhejiang Agricultural Center was 18,814 yuan/ton, slightly up from last week. Prices of tail fins and slices rose noticeably, up 1,848 yuan/ton and 724 yuan/ton respectively; while categories such as large heads, small heads, and tail tips were lowered by 100-700 yuan/ton varying amounts. Trading volume reached 5,928 tons, of which extra-small whole tubes and small whole tubes together accounted for over 70%, maintaining their mainstream trading position.
From the comprehensive quotations, extra-small whole tubes rose 1,000 yuan/ton, while specifications such as slices, large heads, squid necks, and small whole tubes were slightly lowered; the mix of rises and falls reflects divergent market judgments on price trends.
Peru production and policy developments:
Starting June 30, 2025, the Peruvian government has officially stopped jumbo flying squid (茎柔鱼) fishing operations within the exclusive economic zone, allowing only vessels that already hold departure permits to return to port and unload their catch. In the previous week, large numbers of squid stranded along coastlines in many places, with the lowest selling price falling to 0.50 soles/kg (about 1 yuan RMB/kg), far below the quotations of freezing plants (2.60–3.00 soles/kg), intensifying the short-term supply-demand contradiction in the market.
[Southwest Atlantic (Argentine squid)]
Fishing season hits a 28-year high, quotations enter a correction channel
In Week 26, the trading volume of Southwest Atlantic squid (offshore) at the Zhejiang Agricultural Center was 611 tons, mainly concentrated in 200–600g medium-to-large specifications, with an average settlement price of 35,372 yuan/ton, slightly down from the previous week. Nevertheless, some specifications in the comprehensive quotations showed slight increases, displaying a trend of price divergence.
Argentina production hits a new high:
Official data show that as of June 11, the total catch of the jigging fleet had reached 184,712 tons, the highest record since 1998, not yet including vessels waiting to unload at port. The trawler fleet's catch was 25,499 tons. Exports in the first five months reached 135,200 tons, of which 65% were sold to the Chinese market, and export revenue rose 20.8% year-on-year to 374 million US dollars.
The Chinese fleet operating offshore in the Southwest Atlantic will enter a self-imposed closed season starting July 1, and the market may face a phased contraction in supply.
[Other Sea Areas and Market Feedback]
- Northwest Pacific, Indian Ocean: No transaction records in Week 26, quotations remained stable.
- Import quotations: In the Weihai market, prices of Peruvian equatorial squid and Argentine squid showed an overall downward trend; the correction in import quotations further compressed the bargaining space for domestically produced squid.
- Customs clearance data: The volume of ocean-caught squid entering through Zhoushan port rose month-on-month, but remained at a relatively low level, and inventories can still support short-term supply.
[Market Observation]
The current market is in a structural fluctuation stage of "strong supply, weak demand." On the one hand, the fishing seasons in both the Southeast Pacific and the Southwest Atlantic have entered their final stages, and self-caught output and inventory pressure continue to be released; on the other hand, downstream processing plants have weakened purchasing willingness due to the off-season, intensifying the price bargaining tug-of-war.
Against the backdrop of a lack of strong drivers for prices, squid prices will continue in a state of "high-level fluctuation and sideways movement" in the short term. Close attention should be paid to fishing policies in major global production regions, the pace of imports, and the pace of downstream processing start-ups, so as to adjust inventory and quotation strategies in a timely manner.
Source: Zhejiang Zhoushan International Agricultural Products Trade Center
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