Offshore Squid Market Report, Week 25, 2026: Severe Market Divergence! Peruvian Squid Prices Keep Falling, While Large-Sized Argentine Squid Rises Against the Trend
- Judy
- Jun 30
- 4 min read
In Week 25 of 2026 (June 12–18), China’s domestic offshore squid market presented two completely opposite price trends. Prices of Peruvian squid from the Southeast Pacific kept declining, while all large-sized Argentine squid saw price hikes. Squid from the Northwest Pacific and the Indian Ocean maintained stable prices. Differences in supply-demand cycles, fishing quotas and port inventories across the four major producing regions have created wide price gaps for squid. Aquatic traders and processors shall analyze supply and demand conditions by region when making purchasing decisions.
I. Southeast Pacific (Peruvian Squid): All Sizes Weaken Amid Inventory Pressure
Online trading volume of Peruvian squid at Zhoushan market reached 1,664 tons this week with slightly improved transaction activity. However, the increased trading volume failed to prop up prices. Prices of large heads, whole squids and sliced squids all dropped, with the sharpest decline seen in small whole squids of 500–1000g.
Latest quotations at Weihai as of June 18:
300–500g: CNY 14,700 per ton
500–1000g: CNY 14,000 per ton
1000–2000g: CNY 13,200 per ton
Core Reasons for Price Drops
Ample fishing quotas and concentrated port arrivals
Peru’s authorities raised the annual catch limit for giant squid to 539,230 tons. As of June 18, cumulative landings hit 466,964.36 tons, accounting for 86.6% of the full-year quota. Short-term squid supply remains abundant, and concentrated deliveries at domestic ports have aggravated inventory pressure.
Uncertain long-term supply outlook
Local authorities plan to add registration quotas for nearly 2,000 fishing vessels. Expansion of fishing capacity will strain marine fishery resources in the long run. Meanwhile, stable catches in high seas have made traders hold a loose expectation of future supply, leading to cautious purchasing sentiment.
In the short term, inventories of Peruvian squid will be digested slowly, leaving room for further minor price declines for medium and small sizes.
II. Southwest Atlantic (Argentine Squid): End of Fishing Season Drives Sustained Rallies for Large Sizes
Argentine squid posted an inverse market performance. All sizes above 200g rose across the board, with larger specifications commanding higher prices, supported by tight supply.
Market Quotations
Weihai market quotations as of June 18:
150–200g: CNY 36,500/ton
200–300g: CNY 37,500/ton
300–400g & 400–600g: CNY 38,500/ton
Price levels for large sizes in mainstream markets:
300–400g & 400–600g: CNY 40,500–41,500/ton
Premium sizes over 600g: CNY 40,500–42,000/ton
Drivers of Price Hikes
Seasonal supply gap
The current fishing season in the Southwest Atlantic has fully concluded, with no new offshore squid supply entering the market. Pre-season inventories keep shrinking, resulting in scarce high-quality large-sized squid and strong price support.
Disturbances from long-term policy expectations
A proposal to add 18 squid fishing vessels was put forward locally, yet the Fisheries Committee rejected it due to insufficient scientific stock assessment evidence. The proposal cannot be implemented in the short term and will not affect current supply, though market concerns over long-term capacity expansion linger.
III. Northwest Pacific & Indian Ocean Squid: Stable Prices with Minimal Fluctuations
1. Northwest Pacific Squid (Steady Performance)
Quotation range at Zhoushan Market:
Below 300g: CNY 21,000–23,000/ton
300–500g: CNY 20,500–25,500/ton
500–1000g: CNY 19,100–22,000/ton
Circulation relies on existing inventories and fixed processing orders. Balanced supply and demand create no momentum for price rises or falls.
2. Indian Ocean Squid (Low-Price Staple, Flat Week-on-Week)
Overall prices stay low, targeting mass-market low-end processing and distribution, with quotations unchanged across all sizes:
100–300g: CNY 13,300–15,000/ton
300–500g: CNY 12,500–13,500/ton
500–1000g: CNY 11,500–12,000/ton
Over 1000g: CNY 10,500–11,000/ton
IV. Port Arrival Data: Weekly Import Volume at Zhoushan Falls Month-on-Month to Ease Inventory Pressure
Customs clearance volume of self-caught offshore squid at Zhoushan Port declined month-on-month in Week 25. Slower delivery schedules help deplete inventories, yet impacts vary by squid type:
Peruvian squid saw massive prior arrivals and high inventory bases, making price declines hard to reverse;
Scarce supply of Argentine squid means reduced arrivals further push up prices for large sizes;
Balanced supply and demand for Northwest Pacific and Indian Ocean squid make delivery fluctuations barely affect prices.
V. Future Market Outlook
Peruvian Squid: The annual fishing quota is nearly exhausted, yet short-term supply remains ample against high inventories. Medium and small sizes may see further minor price drops. Market players shall continuously track Peru’s second-half catches and domestic port arrival volumes.
Argentine Squid: No new catches will enter the market this season, and inventories of large sizes keep depleting. High prices are likely to persist; focus on changes to Argentina’s fisheries policies.
Northwest Pacific & Indian Ocean Squid: Prices will remain stable in the short run with no room for sharp swings, suitable for regular restocking by processing factories with rigid demand.
Industry Summary
The core contradiction in China’s current squid market lies in mismatched supply cycles across different ocean zones: abundant catches from Peru and supply shortages in Argentina have created a market split of extreme highs and lows. Traders and processors are advised to source supplies by region:
For low-end distribution orders, prioritize cost-effective Indian Ocean squid;
For high-end catering and premium processing, lock in large-sized Argentine squid as needed;
For bulk low-cost raw materials, monitor bargain purchasing windows for Peruvian squid at low price levels.
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