Moroccan octopus prices continue to strengthen

Moroccan octopus prices have continued to increase in January so far, adding gains to last year's record prices, sources told Undercurrent News. 

There have been price increases every week since the start of the fishing season last December, one source in Morocco noted.

"For the moment it is Spain that is buying. Italy has moved to smaller and less expensive calibers (T6, T7, T8)," the source said. 

Because of a shortage in octopus supplies, Spain is also buying T6 and T8 sizes, which is unusual, he added.

"These days we will see how much Japan [customers] will be willing to pay for [frozen] onboard T6, T7 and T8," he also noted.

The first indicative freight-on-board prices out of Moroccan port Agadir were $11,600 per metric ton for T6, $10,600/t for T7 and  $9,600/t for T8. 

Meanwhile, the latest prices for IQF delivery in Italy were €13.70/kg for T3, 

€12.65/kg for T4, €11.70/kg for T5, €9.20 for T6 and €8.20/kg for T7.