The surimi market is one of the fastest growing markets in the global seafood industry. Surimi is a type of seafood made from minced fish or molluscs, which is used as an ingredient in various dishes. The growth of the surimi market is driven by various factors such as changing dietary trends, growing demand for seafood products, and increasing popularity of processed seafood products.

In October 2023, China oceanic squid index dropped slightly at a high level to 165.04 points, down 1.04% sequentially, compared with the same period of last year, the index is still located at a high level, up 3.66% year-on-year. Analysed, in 2023, the El Niño phenomenon led to an increase in seawater temperature, which affected the growth, development and reproduction of squid, and this year's squid catch appeared to be reduced compared with that of the previous year, so the overall China Pelagic Squid Price Index was higher than the level of the previous year.

China's State Council Information Office released a White Paper on "China's Pelagic Fisheries Development" on 24th, pointing out that China's aquaculture output has ranked first in the world for 32 consecutive years, becoming the world's largest aquatic product processor and exporter, and making a positive contribution to guaranteeing the world's food security.

The increase in demand for healthy food has led to a corresponding increase in demand for squid, which first led to the overall upward movement of China's ocean squid price index, which has been at the same level as the same period last year for many consecutive months.

Scallop is one of the main cultured shellfish along the coast of China. Chlamys farreri, bay scallop and Patinopecten Yessoensis are common varieties. Scallop is one of the traditional sea treasures in China because of its rich flavor amino acid content. At present, frozen scallop is the main form of export and domestic products, which can be divided into frozen raw scallop and frozen cooked scallop meat.

China released the oceanic squid index, which shows that the price of squid gradually rised from June 2022. Due to the reduction in squid catches, it is expected that the price of squid will gradually increase in the second half of 2023. Please seize the opportunity before the continuous price increase ⬆ ⬆ ⬆

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