Industry Blog: Peru Adds 50,000 MT Squid Quota, Why Domestic Ocean-Going Squid Prices Remain Generally Stable

Introduction

In Week 28 of July 2026 (July 3–9), China’s domestic ocean-going squid market moved against market expectations. Even after Peru released an additional 50,000 metric tons of Humboldt squid catch quota, the market saw no overall price surge; prices stayed mostly flat, with minor ups and downs only for a few sizes. The squid industry now features two prominent trends: price divergence by fishing grounds and by product sizes. Supply of Peruvian squid has loosened with slightly softer prices, Argentine squid stays pricey due to tight spot inventories, while squid from the Northwest Pacific and Indian Ocean maintains steady prices across all specifications. This article breaks down the market logic backed by the latest industry data.

I. Peru Releases Extra 50,000 MT Quota, Easing Supply Pressure for Southeast Pacific Squid with Mild Price Corrections

1. Major Quota Adjustment Eliminates Fears of Raw Material Shortages

On July 6, Peru’s Ministry of Production (PRODUCE) raised the total annual catch limit for Humboldt squid (Dosidicus gigas) from 539,230 metric tons to 589,230 metric tons, adding 50,000 metric tons of fishing quota in one go. Separately, small-scale artisanal vessels under 10 cubic meters received an independent annual quota of 98,411 metric tons, with an extra 12,800 metric tons available for fishing in the second half of the year, greatly lowering the risk of a year-end fishing suspension.

As of July 9, cumulative landings of Peruvian Humboldt squid hit 529,400 metric tons, consuming 89.84% of the original annual quota. The newly added quota fills the raw material gap for the latter half of the year, completely dispelling market forecasts of price hikes caused by supply shortages. High seas fleets record daily catches of 3–5 metric tons per vessel, with cumulative annual catches per ship standing at 750–800 metric tons, showing stable fishing output.

2. Domestic Peruvian Squid Market: Overall Flat, Minor Price Cuts for Large Heads and Small Sizes

Zhejiang Agricultural Products Center is the core domestic trading platform for squid this week, with online transactions reaching 4,758 metric tons. Downstream buyers only conducted routine restocking without large-scale stockpiling, leading to sluggish trading volume. Quotations for different sizes are as follows:

• Whole large heads (over 2000g): RMB 11,800–12,200 / MT, down RMB 150 week-on-week

• Mantles: RMB 14,000–14,500 / MT; Squid fillets: RMB 14,000–15,000 / MT

• Squid necks: RMB 8,000–8,500 / MT; Squid mouths: RMB 7,500–8,000 / MT

Extra-small whole squid dropped RMB 50 per metric ton, small whole squid fell RMB 200 per metric ton, while all other sizes retained stable prices.

Prices of Peruvian equatorial squid edged up slightly at Weihai market: 300–500g at RMB 14,400 / MT, 500–1000g at RMB 13,500 / MT, 1000–2000g at RMB 12,400 / MT. The mild recovery lacks strong upward momentum.

II. Tight Supply of Argentine Shortfin Squid in the Southwest Atlantic, All Sizes Stay at High Price Levels

Contrary to the loose supply of Peruvian squid, spot supplies of Argentine shortfin squid (Illex argentinus) remain tight, sustaining its top-tier prices across all categories.

1. Year-to-date landings down 8.3% year-on-year

   Data from Argentine shipowner association CAPECA shows total Argentine squid landings in the first half of 2026 reached 188,400 metric tons, an 8.3% year-on-year decline. Port shipments have concentrated in Patagonia; volumes at Puerto Madryn rose 23.8% year-on-year, while Puerto Madplata saw a sharp 46.1% drop. The open-sea fishing season has concluded, and market supply now solely relies on cold storage inventories.

2. Prices hold firm at high levels, only ultra-small sizes edge up slightly

   This week, only squid under 100g rose RMB 250 per metric ton, with all other sizes unchanged from last week. Mainstream quotations:

3. Under 100g: RMB 27,000–28,000 / MT

4. 100–150g: RMB 33,500–37,000 / MT

5. 200–600g: RMB 40,500–41,500 / MT

6. Over 600g: RMB 40,500–42,000 / MT

Scarce spot goods are the core factor preventing price drops.

III. Northwest Pacific & Indian Ocean Squid: Zero Price Fluctuations, Stable Market Performance

1. Northwest Pacific squid:

   Under 300g: RMB 21,000–23,000 / MT; Over 1500g: RMB 22,000–26,000 / MT. All sizes maintain identical prices to last week.

2. Indian Ocean squid:

   Under 100g: RMB 12,300–12,600 / MT; Large whole squid: RMB 10,400–11,000 / MT. Overall trading activity is slow with no room for price adjustments.

   
   

IV. Core Reasons Behind Stable National Squid Prices

1. Additional Peruvian quota eases supply anxiety, abundant supply curbs price hikes

   The 50,000 MT extra quota creates expectations of ample future supply. Coupled with slightly reduced squid arrivals at Zhoushan ports, supply and demand reach a weak balance with no fundamental basis for price surges.

2. Muted downstream demand without bulk pre-season stocking

   Catering businesses and processing plants only restock on demand, with no large-scale seasonal stockpiling to drive price growth. Demand lacks upward support.

3. Complementary supplies from different fishing grounds maintain sufficient overall inventory

   Consistent arrivals of Peruvian squid replenish market supply, while Argentine squid is only purchased by high-end niche channels. The two varieties do not compete, offsetting unilateral price surges.

4. Staggered fishing cycles rule out short-term mass supply shortages

   Peru retains fishing quotas for the second half of the year, Argentina relies on inventory turnover, and the Northwest Pacific and Indian Ocean deliver steady supply. Staggered harvest periods guarantee continuous product inflows.

   
   

V. Future Market Forecast

1. Divergent pricing trend will persist

   Peruvian squid, impacted by the new quota, faces mild downward pressure for medium and large sizes. Argentine squid inventories will keep depleting, so high prices will stay intact in the short term before the next fishing season opens.

2. Prices will fluctuate within narrow bands

   With no obvious recovery in overall domestic demand, squid prices from all fishing grounds will avoid sharp rises or falls, with fluctuations limited to hundreds of RMB per metric ton.

3. Two key indicators to monitor

   Actual fishing progress of Peruvian fleets and the inventory depletion rate of Argentine cold storages will directly shape price trends of the two major squid varieties in the second half of the year. Import port arrivals will also affect short-term spot quotations periodically.\

   
   

Industry Summary

Peru’s substantial expansion of squid quotas has reversed previous bullish market sentiment, ushering in an era of differentiated pricing segmented by fishing grounds and sizes. For importers, aquatic processors and catering supply chain operators, purchasing plans should be formulated by variety: Peruvian squid has abundant supply for batch purchases as needed; high-quality small-sized Argentine squid is scarce, so advance inventory locking is recommended. Squid from the Northwest Pacific and Indian Ocean features stable pricing, suitable for regular long-term stocking.

Market participants should continue tracking South American fisheries policies, deep-sea vessel fishing data, and the recovery of domestic end-consumer consumption.