In Week 19 of 2025 (May 5–11), the North American lobster market remained under pressure as new-season supply surged in Canada and the US while demand from key export market China fell sharply, driving live lobster and frozen tail prices down. Live lobster prices dropped about $1/lb week-on-week, with smaller sizes falling further. China's 25% tariff on Canadian lobster and even higher duties on US lobster—though set to drop to 50% on May 14—have nearly halted US lobster exports to China. Canada's export volumes have fallen year-on-year, and other Asian markets have not absorbed the shortfall; Europe is seen as too limited to fill the gap. Frozen lobster tails, especially 3–4 oz and 4–5 oz sizes, also face price pressure as sellers rush to clear old inventory. In 2024, Canada and the US exported a combined 24,270 tonnes of live lobster to China worth $501 million—Canada about 16,000 tonnes and the US 8,280 tonnes—already a marked decline from 2023. Some exporters are adjusting with more flexible pricing for China, and if high tariffs persist, more lobster will go to North American processing plants and domestic sales.
In April 2025, China's distant-water squid price index continued its overall upward trend but at a notably slower pace. The monthly index hit a record high of 287.32 points, up 1.51% month-on-month, though the gain narrowed by 6.21 percentage points from the previous period. By sea area, three regions rose and one fell: the Southeast Pacific, Southwest Atlantic, and Northwest Pacific all gained, while the Indian Ocean edged down. Looking ahead to May, the market is expected to maintain a "ample supply + weak demand" pattern with high-level fluctuations, as Argentina, the Falkland Islands, and Peru remain key variables.
During Weeks 18-19 of 2025 (April 25 to May 8), the Southeast Pacific squid market saw an overall downward price trend due to the concentrated return of distant-water fleets and a sharp increase in Peru's catch, while Southwest Atlantic (offshore) squid prices maintained slight gains, showing a divergent pattern.
China's food safety enforcement is intensifying, with aquatic product regulation becoming a key focus. Meanwhile, the global seafood market shows mixed movements: Vietnamese pangasius prices hold steady amid tight inventories, Norwegian salmon export prices rebound, octopus prices hit record highs driven by European and American demand, and Chinese caviar enters a downward price cycle.
Japan will reduce its total allowable catch (TAC) for Pacific saury to 95,623 tons in 2025, falling below 100,000 tons for the first time since 1997. The new quota is 10% lower than 2024's, but is expected to have little impact on the industry as it still exceeds actual catches. Japan is permitted to fish 79,457 tons within its exclusive economic zone and 16,166 tons in international waters. Earlier, the North Pacific Fisheries Commission also agreed to cut the regional quota by 10%.
On April 30, the Ministry of Agriculture and Rural Affairs, the Ministry of Public Security and the China Coast Guard jointly held the launch event for the "Sword 2025" special enforcement campaign for the marine summer fishing moratorium in Rongcheng, Shandong. The three departments emphasized that the marine summer fishing moratorium is the core system for protecting China's marine fishery resources and an important measure for advancing Xi Jinping Thought on Ecological Civilization and promoting the sustainable development of fisheries. They required coastal fishery and fishery administration, public security and coast guard departments at all levels to implement all enforcement tasks in accordance with the Notice on Carrying Out the 2025 Special Enforcement Campaign for the Marine Summer Fishing Moratorium.
In Q1 2025, China's warm-water shrimp imports fell 14% year-on-year to 199,623 tonnes, while total import value dipped only 1% to USD 1.09 billion, indicating rising unit prices. Ecuador remained the top supplier with 150,804 tonnes (-11.7%), India plunged 25.2% to 23,107 tonnes, while Argentina (+46.4%) and Venezuela (+63.2%) posted strong growth.
With the Chancay Port in Peru beginning operations in December 2024, shipping time for Ecuadorian shrimp exports to China has been cut from 45–60 days to just 23 days, saving more than two weeks. Ecuador is China's largest shrimp supplier, exporting 658,000 tonnes worth about US$3 billion in 2023.
In Week 19 of 2025 (May 5–11), the North American lobster market remained under pressure as new-season supply surged in Canada and the US while demand from key export market China fell sharply, driving live lobster and frozen tail prices down. Live lobster prices dropped about $1/lb week-on-week, with smaller sizes falling further. China's 25% tariff on Canadian lobster and even higher duties on US lobster—though set to drop to 50% on May 14—have nearly halted US lobster exports to China. Canada's export volumes have fallen year-on-year, and other Asian markets have not absorbed the shortfall; Europe is seen as too limited to fill the gap. Frozen lobster tails, especially 3–4 oz and 4–5 oz sizes, also face price pressure as sellers rush to clear old inventory. In 2024, Canada and the US exported a combined 24,270 tonnes of live lobster to China worth $501 million—Canada about 16,000 tonnes and the US 8,280 tonnes—already a marked decline from 2023. Some exporters are adjusting with more flexible pricing for China, and if high tariffs persist, more lobster will go to North American processing plants and domestic sales.
In April 2025, China's distant-water squid price index continued its overall upward trend but at a notably slower pace. The monthly index hit a record high of 287.32 points, up 1.51% month-on-month, though the gain narrowed by 6.21 percentage points from the previous period. By sea area, three regions rose and one fell: the Southeast Pacific, Southwest Atlantic, and Northwest Pacific all gained, while the Indian Ocean edged down. Looking ahead to May, the market is expected to maintain a "ample supply + weak demand" pattern with high-level fluctuations, as Argentina, the Falkland Islands, and Peru remain key variables.
During Weeks 18-19 of 2025 (April 25 to May 8), the Southeast Pacific squid market saw an overall downward price trend due to the concentrated return of distant-water fleets and a sharp increase in Peru's catch, while Southwest Atlantic (offshore) squid prices maintained slight gains, showing a divergent pattern.
China's food safety enforcement is intensifying, with aquatic product regulation becoming a key focus. Meanwhile, the global seafood market shows mixed movements: Vietnamese pangasius prices hold steady amid tight inventories, Norwegian salmon export prices rebound, octopus prices hit record highs driven by European and American demand, and Chinese caviar enters a downward price cycle.
Japan will reduce its total allowable catch (TAC) for Pacific saury to 95,623 tons in 2025, falling below 100,000 tons for the first time since 1997. The new quota is 10% lower than 2024's, but is expected to have little impact on the industry as it still exceeds actual catches. Japan is permitted to fish 79,457 tons within its exclusive economic zone and 16,166 tons in international waters. Earlier, the North Pacific Fisheries Commission also agreed to cut the regional quota by 10%.
On April 30, the Ministry of Agriculture and Rural Affairs, the Ministry of Public Security and the China Coast Guard jointly held the launch event for the "Sword 2025" special enforcement campaign for the marine summer fishing moratorium in Rongcheng, Shandong. The three departments emphasized that the marine summer fishing moratorium is the core system for protecting China's marine fishery resources and an important measure for advancing Xi Jinping Thought on Ecological Civilization and promoting the sustainable development of fisheries. They required coastal fishery and fishery administration, public security and coast guard departments at all levels to implement all enforcement tasks in accordance with the Notice on Carrying Out the 2025 Special Enforcement Campaign for the Marine Summer Fishing Moratorium.
In Q1 2025, China's warm-water shrimp imports fell 14% year-on-year to 199,623 tonnes, while total import value dipped only 1% to USD 1.09 billion, indicating rising unit prices. Ecuador remained the top supplier with 150,804 tonnes (-11.7%), India plunged 25.2% to 23,107 tonnes, while Argentina (+46.4%) and Venezuela (+63.2%) posted strong growth.
With the Chancay Port in Peru beginning operations in December 2024, shipping time for Ecuadorian shrimp exports to China has been cut from 45–60 days to just 23 days, saving more than two weeks. Ecuador is China's largest shrimp supplier, exporting 658,000 tonnes worth about US$3 billion in 2023.
