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Global Squid Prices See Significant Rise in June Driven by Supply Shocks

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Friday, July 04, 2025, 00:10 (GMT + 9)

The overall price index for China's ocean-going squid surged in June 2025, reaching 281.07 points. While the Southwest Atlantic saw a supply glut, sudden fishing closures in the Southeast Pacific and tighter conditions in the Indian Ocean drove the upward trend.

ZHOUSHAN – The international market for ocean-going squid experienced a notable price increase in June 2025, according to data from the Zhejiang Zhoushan International Agricultural Products Trading Center Co., Ltd. The monthly price index for Chinese ocean-going squid closed at 281.07 points, up 0.77% month-on-month, reflecting a significant upward trend driven by both cyclical resource fluctuations and shifts in global supply and demand. The weekly index also showed an upward trajectory, concluding the fourth week at 278.10 points, a 5.50% jump from the end of May.

 

Trend of China's Ocean Squid Price Index (monthly)

The price index rebounded in June. The graph on the left shows how prices were declining during May.

Regional Divergence: Three Up, One Down

Analysis of June's performance across the four major squid fishing grounds revealed a "three increases and one decrease" pattern:

  • Southeast Pacific: The price index here saw a substantial increase, closing at 316.14 points (up 2.42%). This sharp rise was a direct consequence of Peru's Ministry of Production (PRODUCE) enforcing an abrupt halt to Peruvian squid fishing activities from June 21st. With the maximum allowable catch (LMCTP) for 2025 reaching its legal limit of 304,209 tonnes, the sudden interruption in supply and the anticipated decline due to the ban pushed prices significantly higher.

  • Southwest Atlantic: In stark contrast, the squid price index in this region declined by 6.29%, closing at 199.53 points. This downturn was largely due to a robust fishing season in Argentina. Official government data indicated that Argentina's 2025 squid season, which concluded on June 10th, yielded a total catch of 184,712 tonnes – the highest level since 1998. Coupled with strong fishing performance from various Chinese deep-sea squid vessels in the wider Southwest Atlantic, June saw a significant oversupply in this market, driving prices down.

  • Northwest Pacific: This region experienced a slight price increase, with the index closing at 221.28 points (up 0.37%). Given its relatively smaller proportion in the global squid industry, the modest rise was attributed to a general increase in squid prices in surrounding waters.

  • Indian Ocean: The squid price index in the Indian Ocean showed steady growth, closing at 256.39 points (up 2.40%). With the fishing season on the west coast of India having ended on May 15th and not expected to restart until mid-August (with peak production typically from October to May), the ongoing fishing ban tightened squid supply in the region, contributing to continued price increases.

 

Trend of China’s Ocean-going Squid Price Index (weekly)

Weekly Fluctuations and Outlook

Throughout June 2025, China's offshore squid weekly price index generally fluctuated upwards. After rebounding in the first week, it saw slight dips in the subsequent two weeks before recovering strongly in the fourth week.

Looking ahead to July 2025, the market outlook suggests a period of "stable but weak, with a slight decline" in the deep-sea squid price index. Despite the fishing halt in Peruvian waters, the substantial catch prior to the ban means a considerable volume of squid entered the market in June. Inventories are still expected to be digested in July, leading to a continuation of loose supply conditions. Without a significant surge in demand, this supply overhang could create downward pressure on prices.

Weekly price index trend of ocean squid in various sea areas

Industry Developments Support Sustainable Practices

Recent industry developments highlight a dual focus on increasing quotas while emphasizing sustainable management:

  • Peru's Quota Increase and New Regulations: The Peruvian Ministry of Production (PRODUCE) recently increased the maximum allowable catch (LMCTP) of giant squid for January-August 2025 from 290,000 tonnes to 304,200 tonnes, a 4.89% rise. This is the second quota adjustment this year. Alongside this, Peru implemented new mandatory control measures, including strict gear limitations, maximum catch limits per voyage for manual fishing boats, mandatory cold chain preservation (2:1 ice-to-product ratio), required inspection reports upon docking, and temperature-controlled transport. This shift indicates a short-term loose supply pattern but signals a long-term transformation towards sustainable fishing and standardized cold chain systems.

  • International Symposium on Squid Resource Conservation: Shanghai Ocean University hosted a significant "International Symposium on Conservation and Management of Squid Resources" from June 26-27. The symposium addressed the core issue of sustainable utilization of squid resources, culminating in the adoption of the "Shanghai Proposal for Sustainable Development of National Squid Fisheries." This proposal emphasizes strengthening cooperation mechanisms for monitoring and research, conducting joint studies on squid biology and resource assessment, and developing response mechanisms to climate change. It also promotes sustainable fishing practices to avoid overfishing, ensuring resource longevity. This high-level seminar marks a new platform for international cooperation in global squid fishery governance, laying a path for a shared future for the ocean.

Source: Shuliang Technology/Zhejiang Zhoushan International Agricultural Products Trading Center Co., Ltd.

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