Illex squid and Gigas squid rose slightly while other squid large format prices fell!

From March 22 to March 28, the trading prices of squid recorded at the Zhoushan International Agricultural Products Trade Center in Zhejiang Province were generally at a high level, with the prices of squid of various sizes showing a mixed trend of increases and decreases.

In particular, prices of small and medium-sized squid from the North Pacific and Indian Ocean showed an upward trend, while prices of large-sized North Pacific and Indian Ocean squid remained stable or declined slightly. Meanwhile, prices of squid from Argentina and Peru remained high and increased slightly.

In the Southeast Pacific region, the overall price of Peruvian squid remained high, with an average selling price of about $14,270 per ton. Specifically, the price distribution of Peruvian squid of different sizes was as follows: extra-small raw squid was priced between CNY 18,500 and 19,000/ton, small raw squid was priced between CNY16,000 and 16,800/ton, medium raw squid was priced between CNY13,500 and 14,000/ton, while large raw squid was priced between CNY11,500 and 12,500/ ton. Compared to last week, prices for some parts of Peruvian squid increased, by $500/ton, but the caudal fin portion fell slightly by $300 to be quoted at $13,500 to $14,000/ton.

In the Southwest Atlantic, Argentine squid prices for 200-300g and the largest size (>600g) products fell by $500 per tonne and $1,000 per tonne, respectively, while prices for other sizes remained stable or increased. Last week, the total volume of Argentine squid traded through the platform was 869 tons, with an average price of about CNY33,060 per ton. Among them, the price of Argentine squid in the 400-600g size rose the most, by CNY1,200/ton, with selling prices ranging from CNY37,000 to CNY 38,500/ton.

In the Northwest Pacific, prices of North Pacific squid showed varying degrees of increase, especially for small-sized squid. The price of small-sized squid smaller than 300g sold for CNY22,000/ton, up CNY4,000/ton; the price of 300-500g and 500-1,000g sizes sold for CNY20,000/ton and RMB 18,000/ton, up CNY 3,000/ton and CNY1,000/ton, respectively; while the price of 1,000-1,500g sizes remained basically unchanged at CNY16,000/ton.

The price change of Indian Ocean squid is similar to that of the North Pacific, with the price of small-sized squid less than 100g increasing by more than 30%, but the price of the largest-sized (2,000-4,000g) products decreasing by about 10%. The price distribution of different sizes is as follows: less than 100g at $13,000/ton, 100-300g at $12,000 to $13,800/ton, 300-500g at $10,000 to $13,000/ton, 500-1,000g at $9,000 to $12,600/ton, and 1,000-2,000g at 8,000 to RMB 9,500/ton, and CNY7,000/ton for 2,000-4,000g.

Market analysis showed that the price fluctuations reflected the market's preference for different sizes of squid, with smaller sizes being more popular among processors and consumers. The jump in prices was mainly caused by factors such as high transportation costs and squid arrival cycles.

Since March, squid prices have remained stable and risen slightly during the high-price phase. Squid importers and processors are advised to pay close attention to price fluctuations and adjust their procurement strategies according to the market demand and transportation cycle in order to optimize costs and supply chain management.