High Black Squid Prices in China Due to Low Supply

The supply of black squid from the Indian Ocean has decreased because many vessels decided not to catch it this year since last season squid suppliers faced many losses, and this year production costs have increased. Production costs surged due to high fuel and labor costs that do not make the industry.

The black squid supply is low as many producers are not offering it until prices peak. Currently, the price of black squid in China stands at USD 1.35K/mt for sizes below 300g, 1.2K/mt for sizes between 300-100g, and USD 1.05K/mt for other sizes. Producers predict prices for black squid will keep rising in the next six months.