Global: Tight supply in the squid market pushes up prices and intensifies cost pressures

Published 2024년 9월 8일

Tridge summary

Between August 23 and August 29, 2024, during the 35th week, squid prices in major production areas around the world experienced a significant increase, primarily driven by the Southeast Pacific and Indian Oceans. This price surge is largely attributed to a severe decline in Peruvian squid production by 70% compared to the previous year, alongside global transportation issues and escalating logistics costs. The price hike is further exacerbated by a tight global supply, with the Indian Ocean seeing the most significant price increases across various squid sizes. As a result, the global squid market is expected to maintain high and volatile prices in the short term, posing challenges for aquatic product processing companies and downstream markets. To mitigate these challenges, companies are encouraged to adopt strategies such as optimizing procurement, strengthening inventory management, and expanding supply channels.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

From August 23 to August 29, 2024, in the 35th week, the squid prices in major production areas around the world continued to rise, especially the squid in the Southeast Pacific and Indian Oceans became the main force of this price increase, and the price of squid in the Southwest Atlantic also rose slightly. 1. The price of squid in the Southeast Pacific has risen significantly In the 35th week, the price of squid in the Southeast Pacific rose again. The prices of large-sized products such as big heads, small heads, tail fins, and carcasses soared across the board, and the price of big heads rose 900 yuan/ton, reaching 15,500-15,800 yuan/ton, and small heads rose by 1,000 yuan/ton to 16,000-16,500 yuan/ton. Tail fins and carcasses rose by 500 yuan/ton and 1,250 yuan/ton, reaching 16,800-17,300 yuan/ton and 16,000 yuan/ton, respectively. This price increase is closely related to the sharp decline in Peruvian squid production. As the world's major squid producing area, Peru will ...

Source: Foodmate