Polarized Market! Weekly Ocean Squid Price Report (Week 24, 2026): Peruvian Squid Weakens, Large-Sized Argentine Squid Keeps Rising

China’s ocean squid market saw sharply divergent trends in Week 24 of 2026, with contrasting performances from the two major South American squid supplies. Ample supply pushed down prices of small and medium-sized Peruvian squid, while the conclusion of the Argentine squid fishing season created a shortage of large-sized products and drove prices sharply upward. Prices of squid from the Northwest Pacific and Indian Ocean remained stable. More shipments arrived at Zhoushan Port, putting the industry in an inventory digestion cycle. Aquatic traders need to closely monitor future price volatility triggered by the winding down of Peruvian fishing quotas and the supply gap of Argentine squid.

I. Peruvian Squid: Overall Stable with Minor Cuts for Small & Medium Sizes; Fishing Quota Nearly Exhausted

Overall quotations for Peruvian squid held steady this week, with price declines only seen in small, medium and thick-sized products. Online transaction volume fell month-on-month to 311 tons amid strong wait-and-see sentiment among downstream buyers.

Price differentiation: Prices of by-products including squid tails, mantles, tentacles and yellow parts stayed flat. Thick-sized squid under 500g, 500–1000g, 1000–2000g and over 2000g dropped by RMB 150–400 per ton respectively, bringing mounting inventory pressure for distributors. Quotations in Weihai remained relatively resilient without widespread slumps, with price corrections mainly seen in Zhejiang-based distribution channels.

Sufficient landed stocks: As of June 11, total landed volume of Peruvian squid reached 443,300 tons, fulfilling 92.48% of the annual fishing quota. At the current fishing pace, the full quota will be used up within one week. Ample near-term supply has prompted traders to clear inventories via discounted sales.

II. Argentine Squid: End of Fishing Season Triggers Price Hikes Across All Sizes, Large Sizes Up Over RMB 1,000 Per Ton

The fishing season for Argentine coastal squid and squid in the Southwest Atlantic high seas has basically wrapped up, resulting in drastically reduced new arrivals and tight inventories, lifting prices across the board, especially for large specifications:

• 300–400g: +RMB 750 per ton

• 400–600g & above 600g: +RMB 1,000 per ton

• 200–300g & below 100g: Mild increase of RMB 200–250 per ton

Quotations for large-sized Argentine squid are now at their highest level since 2025, with matching price hikes recorded in Weihai.

Local industrial data confirms contracting supply: Argentina’s squid industrial production index fell 23.1% year-on-year in April. Insufficient replenishment of large-sized squid will provide solid price support going forward.

III. Stable Prices for Squid from Other Origins

Quotations for all sizes of squid from the Northwest Pacific and Indian Ocean showed no notable fluctuations. As alternative supplementary supplies, they cannot offset the structural price divergence between the two core origins of Peru and Argentina for the time being.

IV. Key Factors Shaping Imports & Future Market Trend

• Arrival volume of ocean squid at Zhoushan Port rose month-on-month, placing the national market in an inventory digestion phase.

• Four core variables will dictate short-term squid pricing: the pace of finishing the remaining Peruvian fishing quota, the depletion rate of existing Argentine inventories, incoming cargo volumes at domestic ports, and restocking willingness of processing factories.

• Market outlook: Supply will tighten once Peru’s quota is fully consumed, creating room for a price rebound. Persistent shortage of large-sized Argentine squid is likely to sustain its high price level for some time.

Industry Summary

The ocean squid market currently features a structural imbalance: oversupply for Peruvian squid and undersupply for large-sized Argentine squid. Product size, origin and inventory level have become the core drivers of pricing. Traders and processors may adjust stocking schedules accordingly, track the progress of Peru’s quota consumption and Argentina’s inventory drawdown, and hedge against risks from short-term price swings.

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