Small-sized squid leads the decline, and the overall market turns weak.

Week 14 (March 27 - April 2)

The oceanic squid market entered a downward phase, with price declines concentrated in whole squid products, and small-size varieties emerging as the core of this round of adjustments.

The Southeast Pacific production area saw the most pronounced changes. Prices of processed products such as squid heads, tail fins and tubes remained stable, with squid heads trading in the range of 21,700 to 22,000 RMB per ton. Whole squid products weakened across the board: extra-small whole squid (under 300g) dropped by 600 RMB per ton to 15,300 - 15,800 RMB per ton, and small whole squid (500g - 1000g) fell by the same margin of 600 RMB per ton. Mid-to-large size varieties saw a narrowed decline, with medium whole squid down only 100 RMB per ton and large whole squid falling 250 RMB per ton. In a contrarian move, the price of squid slices edged up to 14,700 - 15,000 RMB per ton. Trading volume on the platform reached 1,452 tons, driven primarily by rigid demand.

Supply Side

The pace of supply release was relatively fast. The cumulative landing volume of Peruvian jumbo squid hit 200,200 tons, accounting for 65.55% of the first-half quota, with the fishing progress significantly ahead of schedule. High-sea fishing operations maintained high efficiency, with the average daily output per vessel ranging from 5 to 8 tons. The concentrated arrival of squid resources exerted direct pressure on the domestic spot market.

Climatic variables have started to influence market expectations. The coastal waters of Peru have entered an El Niño alert phase, which is expected to last until the end of the year and may intensify from May to July. Although the current intensity is still weak, market expectations of subsequent disruptions to fish school distribution, fishing season rhythms and per-unit output are rising.

Southwest Atlantic Market

The market weakened in tandem, with quoted prices for off-shore squid falling overall and steeper declines seen in small-size varieties. Argentina is still conducting resource assessments, with immature individuals accounting for 71% of the population in waters north of 44°N, leading to a further delay in the start of fishing. High-sea output remained low, at approximately 2 to 3 tons per vessel per day, with the cumulative per-vessel output for the current fishing season standing at around 150 tons.

Price trends diverged across different channels. While spot quoted prices declined, the price of Argentine squid on trading platforms edged up, reflecting disparities in market dynamics across channels.

Northwest Pacific & Indian Ocean Production Areas

Markets remained stable, with quoted prices flat from the previous week and no significant fluctuations observed.

Circulation Side

Signs of contraction emerged in the circulation sector. The volume of self-caught oceanic squid cleared through Zhoushan Port decreased month-on-month, providing a marginal buffer to short-term supply, but this failed to offset the overall pressure from incoming cargoes.

Market Trading Dynamics

Trading activity was sluggish. Terminal demand recovery fell short of expectations, with procurement focused on inventory digestion and limited new orders. The mismatch between the concentrated release of supply and insufficient demand follow-through has concentrated price pressure on whole squid products, particularly small-size varieties.

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