Zhoushan National Offshore Fishery Base

Squid and Cuttlefish import and export trade showed a downward trend in July

CHINA
Monday, September 02, 2024, 00:10 (GMT + 9)

According to statistics released by the General Administration of Customs, in July 2024, China's foreign trade in cuttlefish and squid products showed a downward trend, with import and export volumes both falling to varying degrees.

In July, China imported 37,700 tons of cuttlefish and squid products, with a total import value of 805 million yuan, a decrease of 7.61% in quantity and 4.3% in value compared to last year. Compared with June, the quantity and value fell sharply by 12.6% and 18.47% respectively. Although the import volume achieved positive growth in June, the data in July entered a downward trend again.

Loading and unloading at the home port terminal of Zhoushan National Offshore Fishery Base

In the first seven months of this year, except for January and June, the import volume and import value of other months were lower than last year. Therefore, the cumulative import volume from January to July decreased by 25.27% year-on-year to 216,600 tons, and the total import value also decreased by 9% to 5.017 billion yuan.

Since the beginning of this year, the global squid catch has declined, resulting in the overall market price remaining at a high level. As the world's major squid processing country, China's imports of squid raw materials have slowed down accordingly.

In July 2024, the export volume of cuttlefish and squid products was 43,900 tons, an increase of 5.88% over the same period last year; but the export value was 1.778 billion yuan, a year-on-year decrease of 11.55%, mainly because the proportion of frozen cuttlefish and squid products exported in July this year was higher than last year. Compared with the previous month, both the export volume and export value decreased, with the export volume increasing by 7.67% month-on-month and the export value decreasing by 7.66% month-on-month.

Similar to the import trade, the global supply of squid has decreased compared with last year, and China's squid exports have also decreased. From January to June this year, the cumulative export volume of cuttlefish and squid products decreased by 0.71% year-on-year to 295,600 tons, and the export revenue decreased by 16.52% to 12.362 billion yuan.

In July, the squid products in the Chinese market were mainly supplied by fishing boats from Taiwan, China. The catches caught by the Taiwanese fleet in the southwest Atlantic Ocean continue to enter the mainland market. In June, Taiwan Province shipped 12,200 tons of frozen cuttlefish and squid to the mainland, worth 248 million yuan, accounting for 31% of the total import value, ranking first.

The second largest importer is Indonesia, which imported 7,023 tons of squid and cuttlefish products worth 140 million yuan, accounting for 17% of the total import value, surpassing Argentina to rank second. The products were main

Imports of squid and cuttlefish products from Argentina decreased compared with the previous month. The supply in July was 5,138 tons, with a total value of 120 million yuan, accounting for 15% of the total import value. The product category was frozen cuttlefish and squid.

In terms of export markets, the main export destinations for squid and cuttlefish products are still Japan, Thailand and South Korea. The export value to Japan was 351 million yuan, which was slightly different from the 348 million yuan in the previous month, accounting for 20% of the total export value. The product categories include processed cuttlefish and squid products, frozen cuttlefish and squid.

5,325 tons of products were exported to Thailand, with a value of 292 million yuan, accounting for 16.41% of the total exports; 4,916 tons of products were exported to South Korea, with a value of 173 million yuan, accounting for 10%. Compared with June, exports to Thailand increased, while exports to South Korea decreased.

In July, except for the significant increase in import and export trade of frozen, dried, salted, pickled or smoked cuttlefish and squid products, other categories of products all fell month-on-month.

In terms of imports, 94% of the squid and cuttlefish products imported that month were frozen cuttlefish and squid, with a quantity of 35,700 tons, a total import value of 753 million yuan, and an average import price of 21.09 yuan, a slight decrease from the average price of 22.75 yuan/kg in June.

Among the export products, the export value of frozen cuttlefish and squid was 974 million yuan, accounting for 55% of the total exports, and the average price was 33.56 yuan/kg, which was the same as in June; the export value of processed or preserved cuttlefish and squid was 760 million yuan, accounting for 43% of the total exports, and the average price was 52.50 yuan/kg, a slight decrease from 53.24 yuan/kg in June.

Source: Zhejiang Zhoushan International Agricultural Products Trading Center (translated from original in Chinese

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