Falling catches and high demand in Asia and the Middle East have pushed up the price of squid.
According to data from the National Oceanic and Atmospheric Administration (NOAA), in the first 10 months of 2019, the US imported 37,200 tons of squid from China, worth US $ 120 million, down 26% in volume and 32% in volume. in value compared to the same period last year. The volume of imported squid into the US from China dropped to the lowest level in the first 10 months of the year, since 2010.
Increased tax caused US importers to consider changing buying trends. They do not want to keep too much stockpile while the price of this item is rising.
Currently, the 25% tax rate may cause US importers to look to other sources such as India. However, some suppliers in India and Thailand find it difficult to meet the price and supply requirements of US importers, even with a 25% tax rate, some Chinese ink products are still cheap. than the above. Moreover, China has a large processing network, which can meet large import volumes.
Lower demand from the US may be good news for people who like to eat squid in Spain. Grilled loligo in Vigo, Spain can be cheaper if American customers in New York consume less fried squid. In the second half of 2019, ink prices have increased faster than the past 2 years.
Higher demand in Asian countries and the Middle East, declining catches make demand in the US lower.
Natascia Guizzetti of the Italian seafood import company said that there is a shortage of raw materials in Asia, so the prices of squid are high in the Italian market.
In Italy, for processed products, imported frozen Loligo edulis squid from Vietnam (size 20/25 cm WR 100% NW IQF 7kg carton) is priced at USD 7.8 / kg at the Italian port. Frozen Loligo chinensis squid imported from China (18/22 cm, 100% NW IQF 7kg carton) costs USD 7.35 / kg.
In the Chinese market, the price of unprocessed whole Japanese squid, 150-200-gram in early January 2020, was priced at 27,750 CNY / ton (US $ 3,996 / ton), 11% higher than the summer of 2019. Although catches of this species in Japanese waters were relatively good this past summer.
According to Eduardo Freire of Spain's Congelados Cabomar Ink Processing Company, 2020 will be a difficult year for Spanish processors due to lack of supply and high prices.
A trader in Europe said the demand for squid and octopus increased in the Middle East and Asia, pushing prices higher. Qatar and the United Arab Emirates can pay a higher price than European importers so suppliers in India and China sell a lot of goods to these markets. Demand for squid and octopus in Asia has also increased, so raw squid and octopus are also sold in Asia.
In China, the price of unprocessed whole Argentina illex squid, 100-150g, increased 23% since the summer of 2019 to 31,500 yuan / ton. The output of this year's harvest will dominate this product price in 2020.
Dosidicus gigas giant squid catches are better than late 2019. Chinese fishing vessels record high catches in the East and Southeast Pacific while Peru will start fishing in the waters of This country within 2 months.
Recently, the price of giant squid Dosidicus gigas has cooled down, the supply of this item will increase during the period before and after the Lunar New Year.
