Thailand Squid Situation Q3 2022

The squid production in 2022 has increased 34% compared to last year. However, the increased supply is still not sufficient for domestic consumption, which has steadily risen over time. Most Thai suppliers needed to import raw materials to supply the domestic consumption as well as to re-export. The major export markets are Italy and Japan. With the current soaring cost of production, Thai Baht depreciation and ongoing effects of the Covid pandemic driving the squid price even higher, suppliers expect to see a drop in squid demand in July-September 2022.