Photo: Stockfile/FIS

Chinese Squid Market Slumps Amid Global Oversupply

CHINA
Monday, June 09, 2025, 00:10 (GMT + 9)

In early June 2025, Chinese squid prices experienced a sharp decline, reflecting global supply trends and weakening domestic demand.

Beijing – Ocean squid prices tumbled by up to 1,500 yuan per ton (around $204 USD) in a single week—marking the most significant drop in months, according to traders surveyed by Seafood Insight.

Source: courtesy Dialogo Chino/FIS

Peruvian Supply Stabilizes—Volume Keeps Rising

Peruvian squid operators have continued stable fishing activities, with live squid catching steady and port prices ranging from 3,500 to 4,000 soles per ton (about 6,930–7,920 yuan, or $942–$1,077 USD at 1 sole = 1.98 yuan).

Additionally, Peru’s Ministry of Production (PRODUCE) recently raised the giant squid (Dosidicus gigas) quota from 290,000 to 304,200 tons, with the fishing window open until August 31. The result: sustained export volumes exert downward pressure on global prices.

Click the table to enlarge it

South Waste Atlantic Illex squid

Argentine and adjacent international waters are critical zones for Illex argentinus, a key species in the global squid market

Meanwhile, strong catches of Illex squid in the Argentine EEZ and surrounding international waters have further contributed to global supply pressure. These favorable fishing conditions are adding to China's growing inventories and compounding the decline in wholesale prices for deep-sea squid, particularly larger grades

Frozen Squid Remains Stable, Cooked Varieties Softening

Frozen squid prices in Shidao held steady; specialty products like Argentine skewers and tentacles remained unchanged.

Cooked squid, however, showed notable price pressure in Longkou:

• “White silk” and roasted squid dropped 17.3%,
• Fin shreds and strips saw moderate declines of 2–6%,
• Only hand-torn accordion squid maintained stable pricing.

Market Outlook: High Volatility Ahead

Weak consumer demand and softening global markets have led to a cautious mood in China’s squid trade. With excess supply from Peru and Argentina, and release of new quotas like those for Dosidicus gigas, the market is braced for continuing price swings and uncertain short-term trends. Buyers and exporters are advised to stay vigilant as supply surges meet cautious buying.

With the giant squid (Humboldt squid, Dosidicus gigas) season set to begin across the Southeast Pacific—particularly in Peru, Ecuador, and Chile—market dynamics remain uncertain. Depending on catch volumes and global demand, prices may face further downward pressure or find a path to stabilization.

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