The china todarodes price is still high! Since the fishing ban in China (May to August), the catching of todarodes has been stopped for almost three months. The raw material situation has been in a significant shortage for a long time, and the price is high.
The price of the todarodes in the last year bounced a lot with ups and downs. The price range is always among FOB China USD 3.3 to USD 3.5 per/kg for the U5 tubes 70%NW. From May to August 2021, the price increased by over 6%.
Raw material situation: volume up but china todarodes price still high
In the new catching season, the catching quantity is better, but most of them are big-size. Even though the catching volume is good, the raw material price is still high, which counts on the great demand from the EU and other markets. Most of the factories are still waiting to see how the price trend of the new raw material will be in these two weeks. After that, they will buy the new raw material and offer the new price. As ocean treasure gets china todarodes price is still high.
Todarodes new material size is big, which makes small size illex profitable
For the raw material situation, since the todarodes main size is big-size, so for tubes, most of the factory’s process is U5 and 150g+tubes. And for these demands for the small size tubes, most clients will choose illex for U10. It is common sense that the main size will cover over 80% of the whole season in the first catch. So, in this new season for todarodes, the small size todarodes will be very limited. And this situation gives illex a big market to cover. That’s why the illex price and todarodes price are even close.
Tentacle price drop while the tube price increase
For todarodes, the tube price has increased because of the low demand for tentacles and wings. For the tentacles and wings, the price almost dropped 8%-10%. So, factories increased the cost of the tube products to cover the loss from the tentacles. If the factory only processes tubes for new orders, they must deal with the tentacles and wings. However, if the demand is low, they may have to reduce their price. Otherwise, they cannot get target clients for the tentacles and wings products. So once the factories receive tube inquiries, they will recount the cost; since squid is an expensive product, factories will use every part of squid, and there is no wasting of material.
Market trend in the future
The demand for todarodes is solid, and we don’t see the signal for the price descent. The earliest shipping date of the new orders is in early November.
