Fisher Index: Peruvian squid shortage, tight supply, and processing plants are in a crisis of suspension

Peruvian squid is currently in short supply. Here are some key information:

Price increase: Wholesale prices of Peruvian squid in China have risen by more than 10% since the beginning of September, and the current price is between US$5.00 and US$6.00 per kilogram.

Production reduction: Due to the impact of El Niño and other climatic conditions, the squid catch in Peru has dropped significantly, resulting in a shortage of supply.

Market impact: The shortage of squid has caused processors to be unable to meet demand, and competition for squid in the market has increased, resulting in rising prices.

Decrease in imports: In the first eight months of 2024, China's squid imports from Peru fell by 87% year-on-year, reducing market supply.
Peruvian squid prices are also very high in Peru: In the Peruvian market, the price of squid has tripled to 20 to 22 Peruvian soles per kilogram.
These factors have combined to cause a shortage of Peruvian squid and have had a wide-ranging impact on the market.