According to data released by Peru's Ministry of Production (Produce), the country's exports of frozen squid products reached a staggering USD 734 million from January to June 2025, a sharp increase of 256.1% compared to the same period last year. Exports to the Chinese market saw explosive growth, with a year-on-year increase of 1,226.2%, making it the primary driver of this recovery.

This outstanding performance also drove the overall growth of Peru's seafood exports. In June 2025, the country's fishery product exports reached USD 577.1 million, a year-on-year increase of 23%. Among these, the export value of seafood for direct human consumption soared by 132.8%, and the export value of frozen squid alone reached USD 207.1 million in that single month.

From Fishing Collapse to a Sharp Increase in Exports

In 2024, catches of jumbo flying squid in Peru plummeted by 69.7% due to declining marine resources, causing both export volume and value to be halved. However, this downward trend was completely reversed in the first half of 2025.

Data shows that the catch of jumbo flying squid in Peru reached 422,000 tons in the first half of this year, a significant increase of 200% compared to the same period in 2024. More notably, profound changes occurred in the product structure: the volume of raw material allocated to the frozen processing sector increased by 244.4%, that for the canning sector rose by 673.9%, while the catch for domestic fresh sales decreased by 14.3%. This indicates the Peruvian squid industry is accelerating its transformation towards high-value-added export products.

The Asian Market as a Decisive Force

The Asian market, particularly China and South Korea, is driving this surge in demand.

The Chinese market is not only the fastest-growing but also the largest in value, showing extremely strong demand for Peruvian squid.

The South Korean market saw exports increase by 310.7% during the same period, indicating equally robust demand.

Traditional markets: As a traditionally important market, exports to Spain also increased by 73.5%.

Together, China, South Korea, and Spain accounted for nearly 79% of the total value of Peru's squid exports, reflecting a high degree of market concentration.

Industrial Transformation and Sustainability Challenges

The recovery of Peru's squid industry has been accompanied by internal upgrades. Up to 95% of the catch is now sent directly to freezing plants, with only 5% used for fresh sales, confirming its shift toward an export-oriented deep-processing model. Currently, the squid industry contributes 15.7% of the total value of the country's seafood for direct human consumption, supports approximately 64,000 jobs, and thus holds significant economic importance.

However, experts warn that behind this strong recovery lie potential risks. Peru's Ministry of Production cautioned in a statement: "Sustained growth depends not only on favorable oceanic conditions but also on ensuring the long-term sustainability of jumbo flying squid resources, improving cold chain infrastructure, and maintaining access to key markets." Against this backdrop, global platforms like the China Food Expo are becoming increasingly crucial, serving as vital bridges that connect such international supply with booming demand, while also fostering the necessary dialogue on sustainable industry practices.

Source: foodwifi
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