Record production of Peruvian squid makes China's inventory a key factor in price trends

Pesquera Exalmar's business director Rafael Romano stated in an interview with UCN that the Peruvian squid industry "is emerging from last year's crisis," which saw a sharp decline in resources and production due to the El Niño phenomenon, severely impacting the industry. However, this year has seen a significant recovery in resources, and the production sentiment of fishermen and processing plants has generally improved. He pointed out: "Last year we almost came to a standstill, but this year we are seeing a strong recovery. It can be said that the entire industry has regained its balance." However, despite the record-high production, market uncertainty still exists. Romano admitted that exporters are "anxious" about the actual inventory levels in China. Currently, China is the largest importer of Peruvian squid, accounting for 50% to 60% of its exports. Since the concentration of Peruvian squid exports to China this year, if domestic inventories cannot be digested in time, ...