In the first and second weeks of 2026 (from December 26, 2025 to January 8, 2026), the domestic distant-water squid market will enter its first trading cycle of the New Year. The overall market situation continued to be weak. Quotations in the two major production areas of the Southeast Pacific and the Southwest Atlantic (off-line) both declined. Market sentiment was weak and transactions were sluggish.
Southeast Pacific squid: Transactions have slowed down, and quotations have all declined
The market trading activity dropped significantly at the beginning of the year. During the first two weeks, only a few transactions were made for the extra-small whole squid and small whole squid specifications at Zhejiang Agricultural Center. The average transaction price further declined compared to the beginning of the year.
The comprehensive quotations show that the specifications of large head, large original strip, sheet, and tail fin have generally dropped by 500 to 1,000 yuan per ton. The price of the small strip and the central strip has slightly decreased by 300 to 350 yuan per ton.
Market analysis suggests that although the recent catch at sea has declined, the demand side remains weak. Downstream processing enterprises have insufficient orders, and traders generally adopt a wait-and-see attitude. Before the festival, the market lacks obvious replenishment momentum, and the foundation for a price rebound has not yet been formed.
In terms of production, the Ministry of Production of Peru has set the initial quota for the giant squid (Dosidicus gigas) in January-February 2026 at 76,324 tons. After the holiday, the first batch of fishing boats that went out to sea returned to the port one after another. Their fishing performance was average, but the size of the squid they landed was relatively large.
The performance in high seas operations has slightly improved, with an average daily output of about 4 to 8 tons per vessel. Since November 2025, the cumulative output per vessel has been approximately 1,550 tons.
Data from Weihai International Marine Commodity Trading Center shows that the price of Peruvian equatorial squid fluctuates within a small range but remains generally stable.
Southwest Atlantic squid (off-line) : Fishing is hindered and prices continue to decline
The Southwest Atlantic (off-line) squid also came under pressure at the beginning of the New Year. During the first two weeks, Zhejiang Agricultural Center has no actual transaction records for the time being. However, the comprehensive quotations show that the prices of multiple specifications continue to fall, with the decline of small-sized products being particularly significant.
In terms of fishing progress, the Argentine squid (Calamar Illex) fishing season officially kicked off in January. This year, the fleet set sail ahead of schedule. The first batch of 53 fishing boats left the port before December 31 and are scheduled to enter the fishing ground on January 2. However, the bad weather led to the delay of the operation, resulting in a low initial catch and scattered resource distribution, and the unit yield did not meet expectations.
As of January 6th, most of the fleet has moved northward to the waters near Camarones. The operation zone is located between 44° 45’n and 46° 00’n, about 140 nautical miles from the coast, and only 60 nautical miles from the edge of the exclusive economic Zone (ZEEA).
According to statistics, the average daily output of a single fishing vessel in the high seas is less than 2 tons, and the cumulative average catch is about 20 to 30 tons, showing a sluggish performance.
Overall, the distant-water squid market at the beginning of 2026 continued the characteristics of "weak supply and demand and high inventory" seen last year. Prices in the two major production areas of the Southeast Pacific and the Southwest Atlantic have declined simultaneously, and the market is filled with a wait-and-see atmosphere. In the short term, the recovery of demand and the digestion of inventory remain the key factors influencing price trends.
