Looking forward to meet you at Booth# 2C102 May 6-8, 2025 at Seafood Expo Global in Barcelona, Spain

The squid markets in the four major ocean regions are showing a trend of overall stability. Aside from some specifications of squid prices in the Southeast Pacific experiencing an increase, the prices in the other three major regions—the Southwest Atlantic (offshore), Northwest Pacific, and Indian Ocean—remained consistent with the previous week.

Recently, the Food and Agriculture Organisation of the United Nations (FAO) released a global fisheries report for the first quarter of 2024, which provides an in-depth analysis of the global cephalopod market, covering multiple dimensions such as production and supply, market trade, price trends and market outlook.

Looking forward to meet you at our Booth# 2647-3 March 16-18, 2025 in Boston, USA

The 27th China International Fisheries Expo and China International Aquaculture Exhibition (hereinafter referred to as the ‘Fisheries Expo’), hosted by the Agricultural Trade Promotion Centre of the Ministry of Agriculture and Rural Development (CCPIT Agricultural Sub-Council), was opened at the Hongdao International Convention and Exhibition Centre in Qingdao City, Shandong Province, on 30th October.

The 27th China International Fisheries Expo and China International Aquaculture Exhibition (hereinafter referred to as the ‘Fisheries Expo’), hosted by the Agricultural Trade Promotion Centre of the Ministry of Agriculture and Rural Development (CCPIT Agricultural Sub-Council), was opened at the Hongdao International Convention and Exhibition Centre in Qingdao City, Shandong Province, on 30th October.

Last year, the giant squid fishery in Peru's EEZ(Exclusive Economic Zone) had a historic harvest, and this year production has fallen so sharply that domestic prices in Peru have risen to as high as PEN 24/kg ($6.36/kg), causing processors to shy away from even acquiring the raw material.

Traditionally, the four most famous fishing grounds in the world are the Hokkaido fishing grounds in Japan, the Newfoundland fishing grounds in Canada, the North Sea fishing grounds in the United Kingdom and the Peruvian fishing grounds in Peru. These fisheries are famous for their rich fishery resources and unique reasons for their formation. Nowadays, with global warming and changes in fishery resources, the emerging four major fishing grounds are gradually replacing the traditional fishing grounds as the new fishing centres.

According to the predictions of the Multi-Sectoral El Niño Phenomenon Research Committee (ENFEN) of Peru, the La Niña phenomenon is expected to gradually weaken, and it is anticipated that ocean conditions will remain neutral until April 2025, although negative anomalies may occur.

According to data observations from Zhejiang Zhoushan International Agricultural Products Trade Center Co., Ltd.: In terms of the monthly price index operation, the monthly price index for China's distant ocean squid rose significantly in August 2024, closing at 191.16 points, an increase of 3.58% compared to the previous month. In terms of the weekly price index operation, the price index steadily increased each week in August. Among them, the second week saw the largest increase, reaching 2.79%; by the end of August, the index closed at 187.11 points, up 6.23% compared to the end of July.

The gigas squid stocks are experiencing significant depletion, leading to a pronounced increase in price levels. From January to August of this year, the prices of gigas squid have remained elevated, with the annual average price reflecting an increase of nearly 62% points compared to the same period in the previous year. Notably, during the first week of June, Peru initiated the harvesting of smaller squid varieties, which were priced lower; however, the overall trend for squid prices in Peru has been upward. Particularly striking is the remarkable surge in prices observed in the first week of September, where the current weekly average price has reached 10,750 soles per tonne, marking the highest price level seen in nearly three years.

The future of the Falkland Islands' fishing industry is looking increasingly bleak, with the industry facing an unprecedented crisis as scientists warn about the long-term sustainability of the Loligo squid stock. Recently, the Falkland Islands Government was forced to call an abrupt halt to all fishing in the second fishing season of 2024 due to the plummeting squid stock, a decision that sent shockwaves through the Falkland Islands, Galicia, Spain and the entire South Atlantic fishing community.