Photo: Stockfile/FIS

Indian Ocean squid price index: Flying squid (Ommastrephes bartramii)

CHINA
Friday, December 13, 2024, 05:00 (GMT + 9)

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 took the lead, jointly with Shanghai Ocean University, Zhoushan National Ocean Fishery Base and Hangzhou Shuliang Technology Co., Ltd. to compile and release China Ocean Fisheries Squid index.

Source: China Pelagic Squid Index | www.china-squid.com

China Pelagic Squid Index, including squid price index, industry prosperity index, and squid resource abundance index, monitors and reflects the overall development of squid products and pelagic fishery with detailed and dynamic data information.

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

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 ended its three-month upward trend in November 2024 , falling slightly from the previous month, but still higher than the same period last year. From the perspective of the weekly price index, the index continued to decline in the first two weeks of November , and rose steadily in the next two weeks finally closing at 229.35 points, down 2.45% from the end of October.

In November 2024, the global squid fishing situation improved, the overall output showed an upward trend, and the tight market supply situation was alleviated. China's ocean squid monthly price index fell slightly, closing at 237.10 points, down 1.78% from the previous month and up 45.22% from the previous year.

Squid Price Index (Weekly)

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In November 2024, the monthly squid price index in the four major sea areas showed "two increases and two decreases". The fishing situation in the southeastern Pacific Ocean is gradually improving, and the fleet is sailing near the equator to find new fishing areas. The improvement in catches has pushed the monthly squid price index down from its highs, closing at 248.67 points, down 3.43% month-on-month. 

The four main areas in the world where the Chinese fleet fishes for squid. | Source: FIS

Indian Ocean squid price index (Ommastrephes bartramii)

The monthly price index of squid in the Indian Ocean slowed down and closed at 230.25 points, up 7.12% month-on-month, and the increase narrowed by 6.93 percentage points from the previous period.

Combined with the upward trend of the monthly price index and the index performance of each week of last month, the weekly price index of squid in the Indian Ocean this month has obviously tended to be stable. The index closed at 243.42 points at the end of November, down 4.92% from the end of October.

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Index trend forecast

At present, the supply of squid market is gradually increasing with the improvement of fishing conditions in the southeastern Pacific Ocean, but the market generally expects that the tight supply situation may continue until the end of 2024 or early 2025. With the continued release of holiday demand at the end of the year and the further clarification of fishing dynamics in the production area, it is expected that the squid price index will remain high and fluctuate in the short term.

In the medium and long term, the supply of the squid market is likely to improve, and the price index is likely to fall.

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