Octopus supplies are limited and prices will go up!

FAO: Octopus is gaining popularity in several markets around the world, but supply is problematic. Catches have declined in recent years and limited supplies have pushed up prices.
A report published in 2020 by Renub Research predicts that the global octopus market will grow to nearly 625,000 tons by 2025. However, global octopus production is far from reaching this level. In total, nearly 375,000 tons of octopus (of all species) will land in 2021. The total export volume of octopus (all products) in 2020 was only 283,577 tons, which is 11.8% lower than in 2019.
The most important countries in the octopus market segment have remained fairly constant over the years. China is by far the largest producer with 106,300 tons in 2021, accounting for 28% of total landings. Other important producers included Morocco, Mexico and Mauritania with production of 63,541 tons, 37,386 tons and 27,277 tons respectively.
The largest octopus exporters in 2020 were Morocco (50,943 tons, valued at US$438 million), China (48,456 tons, valued at US$404 million) and Mauritania (36,419 tons, valued at US$253 million).
By volume, the largest importers of octopus in 2020 were South Korea (72,294 tons), Spain (49,970 tons) and Japan (44,873 tons).
Japan’s octopus imports have fallen sharply since 2016 due to high prices. In 2016, Japan imported 56,534 tons, but this figure dropped to 44,873 tons in 2020 and further to 33,740 tons in 2021. In 2022, Japanese octopus imports will increase again to 38,333 tons.
The largest suppliers to Japan are China, with shipments of 9,674t in 2022 (down 3.9% from 2021), Mauritania (8,442t, up 11.1%) and Vietnam (8,180t, up 39.1%).
South Korea’s imports in 2022 also fell. Octopus imports are reduced from 73,157 tons in 2021 to 65,380 tons in 2022 (-10.6%). Shipments to South Korea by all the largest suppliers fell: China fell 15.1% to 27,275 t, Vietnam fell 15.2% to 24,646 t and Thailand fell 4.9% to 5,947 t.
Now it seems that the supply will be a little tight in 2023. It is expected that the octopus landings will continue the downward trend and the price will rise further. This could lead to consumer boycotts in some markets. But at the same time, octopus is gaining popularity in some markets, with summer sales expected to increase in 2023 in resort countries around the Mediterranean Sea.