Fishing Output of Squid in Latin America Declines, Price of Peruvian Squid in China Rises Slightly
- Doris
- 2 hours ago
- 3 min read
Mid-March has witnessed new shifts in the supply and demand dynamics of the global squid market. As fishing yields in major Latin American producing regions have gradually retreated from previous highs, prices in China's wholesale markets have started to fluctuate slightly. Among them, the price of Peruvian jumbo squid has edged up, while that of Argentine squid has remained stable overall, though the market generally expects a potential uptrend in the later period.
Data shows that in the week ending March 12 (the 11th week of the year), the wholesale price of 1–2 kg Peruvian jumbo squid fillets in the Chinese market rose by approximately 250 CNY per ton month-on-month, equivalent to around 36 USD per ton. Meanwhile, the price of 200–300 g Argentine squid increased by about 500 CNY per ton from the previous week, with the overall trend stabilizing.
Industry analysts note that the Chinese market is still in a recovery phase following the Spring Festival consumption spree. A market observation report released by the Zhoushan International Agricultural Products Trade Center in Zhejiang Province on March 9 pointed out that procurement activity in wholesale markets is currently dominated by rational inventory replenishment, with downstream demand gradually returning to normal. Overall, there has been no significant surge in terminal consumption, but steady restocking demand has provided fundamental support for prices.
In addition to demand-side factors, changes on the cost side have also impacted the market. Recent persistent geopolitical tensions in the Middle East have led to a notable rise in international fuel costs. As fuel expenses account for a key part of the costs of distant-water fishing, the increase in costs has pushed up the price floor of squid products to a certain extent, limiting the room for further market declines.
Fishing yields in Latin American producing regions are on a gradual decline. According to data from Peru's Ministry of Production, as of March 10, the cumulative landing volume of Peruvian jumbo squid had reached 140,915.9 tons, accounting for 78.64% of the 179,188-ton fishing quota for January–April 2026. In early March, the local daily fishing yield once exceeded 2,000 tons, but it dropped markedly starting from March 7, with the single-day landing volume falling to about 532 tons on March 10, indicating a slowdown in the pace of resource fishing. Activities of international distant-water fleets operating outside Peru's exclusive economic zone have also decreased.
In terms of actual fishing operations, the average daily output of Chinese distant-water fishing vessels has been around 2–3 tons recently. Since December 2025, the average cumulative catch per vessel has reached approximately 350 tons, keeping the overall output at a relatively high level.
The fishing situation for Argentine squid, another major variety, has seen similar changes. Reports from Argentine fisheries media show that the recent average daily output per vessel has dropped from a previous peak of 36.3 tons to about 14 tons, representing a noticeable decline in fishing efficiency.
However, annual data indicates that the Argentine squid resource is still in a high-yield cycle. As of March 3, the local cumulative landing volume had hit 123,679 tons, a substantial year-on-year increase of 99%, and remains at a historically high level.
A comprehensive analysis of market conditions shows that the global squid supply remains relatively sufficient in the short term. Nevertheless, as the fishing peak gradually fades, the dual factors of falling output and rising costs are strengthening market support for prices. Industry insiders generally expect that if fishing yields continue to contract in the follow-up, international squid prices may gradually enter a phase of moderate uptrend.