Global Squid Market Update

In the 48th week of 2024 (November 22–28), squid prices from major global production areas exhibited a downward trend with notable fluctuations across regions. Market dynamics reflected the interplay between supply increases and growing year-end demand, resulting in varied price changes across fishing zones.

Southeast Pacific Squid: Mixed Trends with Rising Demand

The Southeast Pacific region saw significant differentiation in squid prices depending on the product type. Small-headed squid and carcass products rose by 1,250 yuan/ton and 2,250 yuan/ton, respectively, while Ohara strips dropped by 1,250 yuan/ton. The price adjustments were driven by increased catches and growing market activity.

• Small-headed squid prices ranged from 20,000 to 20,500 yuan/ton.
• Ohara strips prices were 16,000 to 16,500 yuan/ton.
• Trading volume surged, with 7,579 tons transacted via the "Ocean Cloud+" platform, led by Ohara with 2,276 tons.

The increasing supply is expected to prompt further price adjustments in the coming weeks.

Southwest Atlantic Squid: Price Drop Amid Active Trading

Squid from the Southwest Atlantic region experienced a notable price decline, particularly for 200–400g products, which dropped by 1,000 yuan/ton. Despite this, transaction volumes grew due to robust year-end demand.

• Squid (200–300g) priced at 36,000–37,500 yuan/ton.
• Squid (300–400g) priced at 34,500–36,500 yuan/ton.
• Total trading volume reached 1,075 tons, with an average price of 35,486 yuan/ton.

The festive season continues to drive market activity, maintaining a lively trading environment.

Pacific Northwest Squid: Stable Prices Amid Balanced Demand

In contrast to other regions, squid prices in the Pacific Northwest remained stable. The region’s relatively balanced supply and demand contributed to the lack of volatility.

• Trading volume was 5,000 tons, with an average price of 16,527 yuan/ton.
• No significant price changes were observed week-over-week.

The region is expected to maintain price stability in the short term.

Indian Ocean Squid: Sustained Downward Trend

Squid prices in the Indian Ocean continued to decline, with the largest drop seen in 500–1000g products, which fell by 1,000 yuan/ton. Other categories also recorded price decreases of up to 250 yuan/ton, driven by oversupply and shifting market demands.

• Prices for 500–1000g squid dropped to within 250 yuan/ton.
• A downward trend is anticipated to persist in the short term.

Outlook: Year-End Demand to Influence Price Trends

Despite the global downward trend in squid prices, the peak consumption period surrounding the New Year is expected to bolster demand. As Southeast Pacific supply increases and the new fishing season begins, suppliers are actively promoting existing stocks, contributing to ongoing price adjustments.

The industry anticipates minimal sharp price declines due to sustained holiday demand. Stakeholders are advised to monitor fishing season developments and adjust procurement and sales strategies accordingly.

The global squid market is likely to experience continued price fluctuations in the near term, shaped by dynamic supply and demand factors.