Argentina's squid catch has been reduced, and the price of domestic squid is expected to increase in
According to Agroindustria, Argentine ships landed 42,796 tons of squid in the first two months of 2023, down 7 percent year-on-year and the lowest level in the past five years.
According to an executive at Yantai Food Company, a squid processor, fishing activity by Chinese vessels in international waters has also declined and supply is bound to be even lower this year.
Kayla, Rongcheng aquatic sales manager, said factories could face difficulties if they don't get raw materials quickly. That's because Chinese factories are likely to have to bear a fair share of rising raw material prices. The main losers will be Chinese factories, because I don't think the price of squid rings or squid tubes will go up much. Otherwise they will lose customers in Europe and North America, which could be very painful.
According to statistics, since the beginning of 2023, the price of 300 grams to 400 grams of whole squid in Chinese ports has hovered between 27,000 yuan / ton and 27,750 yuan / ton ($3,929 / t - $4,038 / t). At 27,400 yuan / ton in China, the price is still well below the peak of 37,000 yuan / ton for the same specification in early 2020.
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