Squid Market in Week 15, 2026: Surge in Peruvian Supplies Depresses Prices, Overall Market Weakens Further

In Week 15 of 2026, the ocean-going squid market remained weak with a clear core trend: supplies from the Southeast Pacific concentrated on the market, with prices continuing to decline; off-contract products from the Southwest Atlantic remained relatively stable; quotations in the Northwest Pacific and Indian Ocean held steady, pulling the overall market focus downward.

I. Performance of Major Producing Areas: Southeast Pacific Leads Decline, Other Regions Remain Stable

1. Southeast Pacific (Peruvian Squid): Surge in Supply Puts Downward Pressure on Prices

The main driver behind this round of weakness is the continuous expansion of supply:

• As of April 9, total landings of Peruvian giant squid reached 215,473.31 metric tons, fulfilling 70.55% of the quota for January–June, reflecting both abundant resources and high operational efficiency.

• The average daily catch per vessel on the high seas stood at 5–8 metric tons, with an average catch of 450–500 metric tons per vessel since December 2025. Coupled with concentrated arrivals of earlier imported catches, inventory pressure has risen sharply.

Demand was sluggish, with downstream buyers adopting a cautious, wait-and-see attitude. Online trading volume reached only 1,016 metric tons, as purchasers only restocked on demand and avoided hoarding, suppressing price flexibility. All sizes of Peruvian equatorial squid at the Weihai International Marine Commodity Trading Center fell in tandem, with weakness spreading across the market.

On the price front: three main product segments declined slightly, whole-round squid fluctuated, and squid tubes saw the most significant drop, marking the key change of the week.

2. Southwest Atlantic (Argentine Squid): Relatively Stable, but Price Support Under Test

Supply and demand were better balanced than in the Southeast Pacific, with quotations largely unchanged and online trading volume at 156 metric tons:

• Fishing commenced in waters north of 44°S, with northbound fleets harvesting S/M/L sizes and reaching a per-vessel catch of 32 metric tons, indicating robust resources in southern fishing grounds.

• High-seas operations were weaker, with a daily catch of 1–2 metric tons per vessel and a seasonal average of 150 metric tons. No concentrated price depression occurred, yet prices in the Weihai market edged down slightly, putting stability to the test amid new supply increases.

3. Northwest Pacific + Indian Ocean: Stable Quotations Cushion Market but Fail to Reverse Weakness

Quotations in both regions were flat week-on-week, providing some buffer for the market but unable to reverse the overall downward trend. Customs arrivals of domestically caught squid at Zhoushan Port decreased month-on-month, with short-term fluctuations in shipments and no meaningful relief in inventory pressure, as traders continued to digest earlier stockpiles.

II. Core Market Logic: Ample Supply + Cautious Demand Drive Weak Sentiment

The key variable in the current squid market remains the Southeast Pacific: the combined effect of sustained high production in Peru, concentrated arrivals of imported goods, and slow downstream purchasing has dragged down price levels. Argentine squid prices are temporarily steady, and the Northwest Pacific and Indian Ocean show no major fluctuations, yet the overall ample supply leaves little room for strong market performance.

III. Industry Operational Recommendations: Control Pace, Stabilize Inventories, Guard Against Low-Price Impacts

For domestic processors and traders, betting on a rebound is not advisable at this stage. More pragmatic strategies include:

1. Controlling procurement pace, restocking only as needed, and avoiding blind hoarding.

2. Closely monitoring inventory turnover, optimizing product size structure, and mitigating risks of slow-moving stock.

3. Heightening vigilance against continued influx of low-priced supplies from the Southeast Pacific to prevent cascading price cuts.

In the short term, as long as the pattern of abundant Peruvian squid supply and cautious demand persists, the squid market will maintain a trend of weak fluctuation with a downward price focus.

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