According to the Marine Affairs of Galicia, the value of octopus landings in Galicia, Spain for the first half of the year exceeded €2.6 million, which is the highest level recorded since 2010. Even with significantly more product on the local market, prices have remained stable.
In 2015, Japan experienced a significant increase in imports of octopus. Indeed, during the first half of 2015, imports increased by 38.5 per cent. However, during the first half of 2016, imports fell back by 15 per cent, to 24,500 tonnes. Both of the main suppliers, Morocco and Mauritania, shipped less octopus to Japan during this period, while China increased shipments by almost 23 per cent.
While Morocco reduced octopus shipments to Japan, it increased exports to another main market: Spain. Spanish octopus imports from Morocco went up by almost 17 per cent, while imports from the second largest supplier to Spain, Mauritania, went down by 12.5 percent. Total Spanish imports of octopus remained stable at 27,200 tonnes during the first half of 2016.
Octopus prices will probably remain more stable, as the supply situation has improved, with some slight increases in global landings.
The report analyses the octopus market situation over the period January-October 2016