Image: China Pelagic Squid Index / FIS

Southwest Atlantic Squid Index: Illex Squid (Illex Argentinus)

CHINA
Friday, January 24, 2025, 07:00 (GMT + 9)

In order to continuously enhance the ability to control squid resources and price influence, and conduct more accurate resource assessment and forecasting, the China Ocean Fisheries Association took the lead, jointly with Shanghai Ocean University, Zhoushan National Ocean Fishery Base and Hangzhou Shuliang Technology Co., Ltd. to compile and release China Ocean Fisheries Squid index.

The squid price index basically showed an upward trend year-on-year

From November to December, the squid price index slowed down its growth and remained at a high level. In November, the fishing situation in the southeastern Pacific Ocean gradually improved, and the ocean-going fleet began to sail near the equator to find new fishing areas. The continued high prices suppressed the release of market demand to a certain extent, so the index fell slightly. After entering December, with the approaching holidays and the New Year, fishing boats in Peruvian waters returned to the port one after another, and ocean-going fishing boats began to move to the southwest Atlantic to welcome the arrival of the 2025 fishing season. Most market parties were in a wait-and-see state, and the squid price index rose steadily.

Source: China Pelagic Squid Index | www.china-squid.com

Squid Price Index for all species (4)

Click on the image to enlarge it

Looking ahead, with the gradual recovery of squid resources in the Southeast Pacific, prices are expected to fluctuate in a high range; the demand for squid in the Southwest Atlantic remains strong, which will also bring new opportunities to the industry. It is recommended that companies strengthen resource monitoring and market analysis, meet the needs of young consumers through effective marketing strategies and product positioning, promote the promotion of high-quality products, and promote the sustainable and high-quality development of the squid industry.

The four main areas in the world where the Chinese fleet fishes for squid. | Source: Jinghai Group / FIS

Positive Outlook for Squid Fishing in the Southwest Atlantic in 2025

If the current positive trends in squid fishing in the Southwest Atlantic continue, it is anticipated that the squid price index in this region will resume a steady upward trajectory throughout 2025.

The 2025 fishing season began in December, with the jigger fleet moving to the Southwest Atlantic to prepare for the new year’s catch. While most market participants initially adopted a wait-and-see approach, the squid price index has shown a steady upward movement.

Global Squid Market Trends

Demand for squid in the global market remains robust, with the Chinese market experiencing some price fluctuations recently. However, the overall trend is optimistic. Looking ahead:

• As squid resources in the Southeast Pacific gradually recover, prices in that region are expected to fluctuate at relatively high levels.
• The demand for squid in the Southwest Atlantic remains strong, presenting new opportunities for the industry.

To seize these opportunities, companies are encouraged to:

• Strengthen resource monitoring and market analysis.
• Tailor marketing strategies and product positioning to attract younger consumers.
• Focus on promoting high-quality squid products.

By doing so, the industry can achieve sustainable and high-quality growth while meeting evolving consumer preferences.

Southwest Pacific squid price index (Illex Argentinus) 

Click image to enlarge it

Squid Price Index Trends: Southwest Atlantic vs. Southeast Pacific

Over the past three years, the squid price index in the Southwest Atlantic has shown significant similarities in both volatility and overall trends compared to the Southeast Pacific. Key observations include:

• 2022: The squid price index in the Southwest Atlantic experienced steady growth.
• 2023: The upward trend continued, with each month’s index consistently exceeding levels from the same period in the previous year.
• 2024: Despite increased complexity and volatility in the global squid market, the Southwest Atlantic squid price index maintained an overall upward trajectory.

Fishing Operations and Industry Insights

Squid fishing operations by trawlers and jiggers are concentrated in international waters outside Argentina’s Exclusive Economic Zone (EEZ). Of the approximately 68 vessels in the Argentine-flagged jigger fleet, nearly half (34) are under the control of Chinese enterprises. Early indicators suggest a promising season for the fleet operating south of Argentina’s EEZ.

FIS publishes the Squid Index for each of the four recorded species weekly, every Friday

Source:

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