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China's squid and cuttlefish imports increased by more than 50% in the first eight months, but exports declined

CHINA
Friday, September 29, 2023, 07:00 (GMT + 9)

August trade data

A total of 31,500 tons of squid and cuttlefish were imported in August, worth 707 million yuan (U$D 96.70M) . Compared with 29,400 tons and 620 million yuan (U$D 84.80M) in the same period last year, the import volume increased by 6.92%, and the import value increased by 14.04%.

The import of squid products is mainly affected by the catch of the squid production season. The import volume in August decreased by 30.86% month-on-month compared with July, and the import value decreased by 20.06% month-on-month.

Exports are also on a downward trend. In August, export volume fell by 14.55% year-on-year to 37,700 tons, and export value fell by 17.35% year-on-year to 1.873 billion yuan (U$D 256M). Compared with the previous month, export volume and export value also decreased by 10.06% and 7.27% respectively.

Trade data for the first eight months

In the first eight months of this year, China has imported a total of 339,200 tons of squid and cuttlefish, worth 6.225 billion yuan (U$D 851M), an increase of 51.28% and 50.88% respectively compared with the same period last year. Although Argentinian squid production has declined this year, Peruvian giant squid production has increased. Considering that the epidemic last year had a certain impact on squid imports, squid imports have increased significantly this year.

The total export volume of squid and cuttlefish from January to August was 335,600 tons, a year-on-year decrease of 15.56%; the total export volume was 16.703 billion (U$D 2.285M), a year-on-year decrease of 22.18%.

Compared with last year, imports increased by more than 50%, while exports showed a downward trend, indicating that domestic squid consumption recovered rapidly after the epidemic was relaxed.

Product structure

It can be seen from the product structure that my country mainly imports frozen cuttlefish and squid (accounting for 85% of the import value), processes them into high-value squid and cuttlefish products (accounting for 52% of the export value) or directly exports them abroad.

Source: Zhejiang Zhoushan International Agricultural Products Trade Center (translated from original in chinese)

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