Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us
   


The tight supply situation in China's squid market may continue in September, which will drive the squid price index to remain high and volatile

China's offshore squid (August 2024 review)

Click on the flag for more information about China CHINA
Friday, September 06, 2024, 07:00 (GMT + 9)

Introduction: The China Ocean Squid Price Index Review is jointly compiled and released by Zhejiang Zhoushan International Agricultural Products Trading Center Co., Ltd. and Shuliang Technology.

The content and views of this article are for reference only. The squid market is volatile, and the price index trend is only used to reflect the changing trend of domestic squid prices. In this issue, the China Ocean Squid Price Index for August 2024 is calculated based on the ocean squid price data from various sea areas provided by Zhejiang Zhoushan International Agricultural Products Trading Center Co., Ltd. and the Shuliang Technology index model, providing an authoritative and scientific analysis of the index operation for manufacturers and consumers.

I. Overall performance of the index

According to data from Zhejiang Zhoushan International Agricultural Products Trading Center Co., Ltd., from the perspective of the monthly price index, the monthly price index of China's ocean squid rose to a high level in August 2024 , closing at 191.16 points, up 3.58% from the previous month. From the perspective of the weekly price index, the price index rose steadily in each week of August . Among them, the index rose the most in the second week, reaching 2.79%; at the end of August, the index closed at 187.11 points, up 6.23% from the end of July.

2. Analysis of the monthly price index trend of squid

In August 2024, China's offshore squid price index rebounded from a high level and closed up again at 191.16 points, up 3.58% from the previous month. Recently, there is still no sign of improvement in the global squid catch, and the market supply continues to be limited. Although the high price has a certain inhibitory effect on market demand, the impact is limited, and the squid price is still running high.

Figure 1 Trend of China's Ocean Squid Price Index (monthly)

In August 2024, except for a slight decline in the squid price index in the northwest Pacific Ocean, the squid price indices in other waters all increased to varying degrees.

The squid price index in the Southeast Pacific Ocean rose the most, closing at 196.84 points, up 4.20% from the previous month. Peruvian squid produced in the Southeast Pacific has always occupied a large share of the global squid market, and its production will have a great impact on the price trend of squid. However, since the beginning of this year, the production of Peruvian squid has dropped sharply. According to official data from the Peruvian Ministry of Production, the squid catch in the first half of this year was only 140,000 tons, a decrease of 70% from the same period in 2023. In August, the catch of Peruvian squid was still weak, and as the inventory continued to be consumed, the price increase momentum was strong.

The squid price index in the southwest Atlantic Ocean rose the second, closing at 182.42 points, up 2.70% from the previous month. In August, the market supply of Argentine squid produced in the southwest Atlantic Ocean was relatively sufficient, but due to poor fishing conditions in other waters, the supply of squid decreased, resulting in an increase in market demand for Argentine squid, which pushed the price index up.

Driven by the increase in prices of some specifications of squid products, the squid price index in the Indian Ocean rebounded to close at 181.64 points, a month-on-month increase of 2.13%.

Contrary to the trend of the other three major sea area indices, the squid price index in the Northwest Pacific Ocean fell slightly, closing at 161.54 points, a month-on-month decrease of 0.40%. At present, China's annual output of offshore squid fishing is about 600,000 tons, more than 85% of which are Peruvian giant squid, 12% are Argentine squid, and the output of North Pacific squid and Indian Ocean squid is relatively low. The reason for the low output of North Pacific squid is the depletion of squid resources in the high seas of the North Pacific. Therefore, the squid price in the Northwest Pacific Ocean has been relatively stable. Although the index has declined this period, the decline is small and the overall fluctuation is not large.

Figure 2 Monthly price index trend of pelagic squid in various sea areas (click image to enlarge it)

3. Analysis of weekly squid price index trend

From the weekly price index trend: In August 2024, China's offshore squid price index continued to rise, with an overall outstanding performance. Specifically, the index continued its upward trend at the end of July in the first week of August, closing at 178.05 points, a month-on-month increase of 1.08%; the index rose in the second week, reaching 2.79%; the index rose slowly in the third week, with the increase lowered to 0.23%; the index closed at 187.11 points in the fourth week, and the month-on-month increase expanded again, with an overall increase of 6.23% compared with the end of July.

Figure 3 Trend of China’s Pelagic Squid Price Index (weekly) | (click image to enlarge it)

In terms of details, the trend of the squid price index in the southwest Atlantic Ocean is similar to the overall price index, and it has been rising for four consecutive weeks. The index closed at 150.06 points at the end of August, up 7.59% from the end of July, and the overall increase ranked first among the four major sea areas. The squid price index in the northwest Pacific Ocean basically ran smoothly, closing at 147.61 points at the end of August, down 0.50% from the end of July. Compared with the other two major sea areas, the squid price index trends in the southeast Pacific and Indian Oceans have certain commonalities. First, the two operating levels are similar, both at relatively high levels; second, both are fluctuating upward. At the end of August, the two indices closed at 201.27 points and 202.63 points, up 6.30% and 4.82% from the end of July, respectively; finally, the overall volatility levels of the two are relatively consistent. The amplitudes of the two indices in August were 10.49 percentage points and 10.99 percentage points, respectively, with a difference of only 0.50 percentage points.

Figure 4 Weekly price index trend of deep-sea squid in various sea areas | (click image to enlarge it)

4. Index trend forecast

In the short term, there is no sign of improvement in squid catches in the southeastern Pacific Ocean, and China's voluntary fishing moratorium in the southwest Atlantic Ocean will last until the end of September. During this period, the supply of Argentine squid in the market mainly depends on imports, and the short-term shipping price is likely to remain high. Taking various factors into consideration, the tight supply situation in China's squid market may continue in September, which will drive the squid price index to remain high and volatile.

Source: Shuliang Technology (translate from original in Chinese)

editorial@seafood.media
www.seafood.media


 Print


Click to know how to advertise in FIS
MORE NEWS
Norway
Oct 16, 00:10 (GMT + 9):
Record-Breaking Quarter for Salmon Giant Mowi
Philippines
Oct 16, 00:10 (GMT + 9):
Tensions Escalate Between the Philippines and China Over Disputed Fishing Waters
Japan
Oct 16, 00:10 (GMT + 9):
Seven-Eleven separates non-convenience stores, changes name and holds intermediate shares in anticipation of IPO
Japan
Oct 15, 15:00 (GMT + 9):
IN BRIEF - Growing Concern in Japan Over Peruvian Giant Squid Supply
Russian Federation
Oct 15, 07:00 (GMT + 9):
Dynamics of Russian Trout Imports from Turkey (January-August 2019-2024)
European Union
Oct 15, 07:00 (GMT + 9):
The Africa-Europe Ocean Strategic Group fosters a dynamic partnership, strengthening ties between the two continents through collaborative initiatives
Viet Nam
Oct 15, 07:00 (GMT + 9):
Vietnam's Shrimp Exports Reach Impressive U$D 2.8 Billion
Norway
Oct 15, 01:00 (GMT + 9):
The Norwegian Pelagic Fishing Course in Week 41
Spain
Oct 15, 00:50 (GMT + 9):
The free app ‘At least three’, promoted by specialists, revolutionises fish consumption in Galicia
Spain
Oct 15, 00:30 (GMT + 9):
IN BRIEF - Cooke Spain consolidates its position with a significant increase and a return to profits
South Korea
Oct 15, 00:10 (GMT + 9):
IN BRIEF - South Korean frozen pollock imports up 14% in September
Norway
Oct 15, 00:10 (GMT + 9):
New Norwegian export investment in the fishing industry
Viet Nam
Oct 15, 00:10 (GMT + 9):
Press Release: VASEP Reaffirms Commitment to Sustainable Development in the Shrimp Industry
Russian Federation
Oct 15, 00:10 (GMT + 9):
IN BRIEF - Squid fillet production in Russia increased by 25%
Viet Nam
Oct 15, 00:10 (GMT + 9):
IN BRIEF - Vietnam hands over floating aquaculture cages to China after storm No. 10 hits China



Lenguaje
FEATURED EVENTS
  
TOP STORIES
Southeast Pacific Squid Index: Giant squid (dosidicus gigas)
China In order to continuously enhance the ability to control squid resources and price influence, and conduct more accurate resource assessment and forecasting, the China Ocean Fisheries Association&n...
The Norwegian Pelagic Fishing Course in Week 41
Norway A good week for NVG herring, while the mackerel fishing is good. Norwegian Spawning Herring (NVG): It was a good week for Norwegian spring-spawning herring with a total of 12,468 tonnes registered...
Vietnam's Frozen Tuna Meat and Loin Exports Continue to Surge
Viet Nam Following a decline in 2023, Vietnam's exports of frozen tuna meat and loins have steadily increased in the first eight months of 2024. Notably, in August, the export value for these products reached...
7th Symposium of Stock Enhancement and Sea Ranching
Chile Habitat-forming organisms, benthic enhancement and conservation aquaculture for the sustainability of the marine economy of Chile at ISSESR7   With a selection of around 60 research projects, i...
 

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
SeaChoice
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2024 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER