The price of squid in China has risen sharply!

China's Squid Trade Center has reported a sharp increase in the price of Argentine squid, one of the world's largest cephalopods, following poor fishing in the south-west Atlantic.

April 3-9, the price of whole frozen Argentine short-fin squid (Illex argentinus) of all sizes increased significantly, of which the price of 150g to 200g was 27,583 yuan / ton (US $4,008 / ton), an increase of 9%; The price of 200 grams to 300 grams is 27167 yuan / ton, an increase of 10%; The price of 300-400 grams is 29,750 yuan / ton, an increase of 9%; The price of 400 grams to 600 grams is 29,750 / ton, an increase of up to 10%; The price of more than 600 grams is 33,167 yuan / ton, an increase of 10%.

The price increase comes ahead of the Global Seafood Expo in Barcelona from April 25-27, where Chinese processors will negotiate with European buyers eager to secure supplies for the rest of the year. Chinese processors say they expect to pay more for raw materials due to a significant reduction in the amount of squid coming ashore today, which could lead to higher prices for squid rings and squid tubes.

According to Agroindustria, Argentine vessels landed 65,497 tons of squid during the peak fishing season from January to March this year. That's down 18% from last year and 26% from 2021.

"There will definitely be less supply this year," a senior executive at a Chinese squid processor told SENA.

The sales manager of another Chinese squid processor said: “If factories don't get raw materials as soon as possible, they may face difficulties. The main losers will be Chinese factories, as they will not be able to raise prices on end products such as squid rings or squid tubes. Otherwise, they will lose customers in Europe and North America, which could be very painful. "