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Photo: Zhejiang Zhoushan International Agricultural Products Trading Center Co., Ltd.
Global Squid Prices Dip Slightly in May Amidst Shifting Regional Supply Dynamics
CHINA
Wednesday, June 11, 2025, 00:30 (GMT + 9)
Squid market sees slight cooling in May, influenced by diverse regional supply trends and an impactful Argentine port strike.
BEIJING – China's distant-water squid price index experienced a slight decline in May 2025 from its earlier highs, reflecting a complex interplay of regional supply and demand factors. According to data from Zhejiang Zhoushan International Agricultural Products Trading Center Co., Ltd., the overall monthly price index closed at 278.93 points, down 2.92% from April, with weekly figures showing a fluctuating downward trend.
Figure 1 Trend of China's Ocean Squid Price Index (monthly)
The market has recently been characterized by structural imbalances, leading to a rise-and-fall pattern. While the overall trend was a slight decrease, a closer look at the four major fishing grounds reveals varied performances, with "three increases and one decrease" in regional price indices.
Regional Divergence in Supply and Price
The Southeast Pacific Ocean squid price index saw a decrease of 4.28% to 308.66 points. This decline is largely attributed to stable catches from Peru in May, which saw a large number of fishing boats arriving at port, pushing market supply to the brink of oversupply. Chinese distant-water vessels also maintained stable output, averaging 950-1,000 tonnes per ship year-to-date, contributing to a loose supply situation that suppressed prices.
 
Conversely, the Southwest Atlantic squid price index registered a modest increase of 0.71% to 212.94 points. This slight uptick follows the Argentine Federal Fisheries Commission's decision to prematurely close the squid fishing season on June 10, as resource escape rates dropped below the biosafety threshold. As of May 22, deliveries to shore had reached 162,154 tonnes, with final output for the season expected around 180,000 tonnes. Chinese distant-water vessels in this region also maintained stable catches. The anticipated reduction in future supply from Argentina's early closure played a role in nudging prices upwards.
In the Northwest Pacific Ocean, the squid price index remained stable, rising slightly by 0.36% to 220.47 points. This minor increase is linked to unstable market arrivals due to concentrated fishing vessel operations and rising prices in nearby waters.
Figure 3 Trend of China’s Ocean-going Squid Price Index (weekly)
The Indian Ocean squid price index bucked the trend, rising significantly by 2.43% to 250.38 points. This surge is primarily due to a sharp drop in Indian squid production in May, making it one of the worst months in recent years, impacted by abnormal marine climate and extreme weather. With the west coast of India's fishing season ending prematurely on May 15, supply tightened considerably. Furthermore, strong demand from Europe, where Indian squid holds an "irreplaceable" position due to its unique flavor, exacerbated the supply shortage and pushed prices higher.
Market Outlook: Quotas, Strikes, and Seasonal Demand
Looking ahead, the market faces contrasting supply-side pressures. Peru's Ministry of Production (PRODUCE) recently approved a significant adjustment to the giant squid quota for the first phase of 2025, increasing it from 190,000 to 290,000 tonnes and extending the fishing period to August 31. This decision, based on IMARPE's assessment of sufficient reserves, indicates that the market will likely remain well-supplied from the Southeast Pacific throughout June.
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However, a 24-hour nationwide port and union's strike in Argentina on May 27, launched by the Maritime and Ports Union in protest of government deregulation, presents a short-term disruption. This industrial action led to a complete port shutdown, preventing squid fishing boats from docking and resupplying, potentially forcing early returns and impacting catches. It also severely blocked the supply chain, stranding many squid cargoes destined for major consumer markets like China and Europe, creating temporary supply shortages and price volatility. The long-term impact on the Southwest Atlantic market will depend on the strike's duration and negotiation outcomes.
On the demand side, June is not a traditional peak season for squid consumption, with no major festivals or events expected to stimulate significant growth. The catering industry and food processing companies maintain relatively stable purchasing patterns, suggesting no strong upward momentum for demand.
Considering these factors, the deep-sea squid price index is broadly expected to show a trend of "general stability with a slight decline" in June 2025.
Related News:
- Argentina Closes Successful Illex Squid Season: Catches Exceed 185,000 Tonnes
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